Mr. Jeff Chisholm reports
PAN ORIENT ENERGY CORP.: THAILAND SUCCESSFUL APPRAISAL WELL L53-DD2
Pan Orient Energy Corp.'s L53-DD2 appraisal well has encountered an interpreted combined approximately 32 metres of net oil pay within four separate sandstone reservoirs between a true vertical depth of 1,044 metresto 1,105 metres. This interpretation was based on conventional open hole wire line logs, hydrocarbon indications observed while drilling, pressure data and correlation with the L53-DD1 well.
The L53-DD2 well was drilled to a measured depth of 1,903 meters (1,589 meters true vertical depth) from the same well pad as the L53-DD1 well with a subsurface target approximately 560 meters southwest of the L53-DD1 well. The targeted oil bearing sands came in approximately 26 meters higher at L53-DD2 versus the equivalent sands at L53-DD1.
A 90 day production test application for the L53-DD2 well has been submitted to Government of Thailand ("GOT") for approval. GOT approval for a 90 day production test of the L53-DD1 discovery well was received on October 31, with testing expected to commence on approximately November 18, 2018, shortly after the drilling rig has moved off the location. L53-DD2 is expected to begin testing at approximately the same time. Shareholders will be informed of the production test results after approximately the first seven to ten days of testing. At that time, a preliminary Thailand 2019 drilling program will also be outlined to Pan Orient shareholders.
Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently located onshore Thailand, Indonesia and in Western Canada.
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