Pan Orient Energy Corp.announces Thailand L53-DC3 oil discovery

Pan Orient Energy Corp.announces Thailand L53-DC3 oil discovery

Pan Orient Energy Corp. (“Pan Orient” or the “Corporation”) (TSX VENTURE:POE) is pleased to announce that the L53-DC3 appraisal well is currently on a 90 day production test producing 15 degree API oil by electrical submersible pump at a rate of approximately 160 barrels of oil per day with an 8% water cut, interpreted to be mainly completion brine based on the high salinity.
Production is from perforations across 15 meters (true vertical thickness) of oil pay in the “A1” and shallower “HO” sands. The top and base of perforations are 512 and 547 meters true vertical depth respectively.

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