In case you didn't see NEWS RELEASEPan Orient Energy Corp.: Thailand Operations Update (ccnm)
CALGARY, ALBERTA--(Marketwire - Feb. 9, 2010) - Pan Orient Energy Corp. (TSX VENTURE:POE) -
Thailand L53 Concession
L53-DST1 Appraisal Well (100% WI and operator)
The L53-DST1 appraisal well was drilled to a subsurface location approximately 270 meters northwest of the L53-D exploration well targeting a sandstone reservoir that tested at a restricted rate of 228barrels of 19 degree API crude oil and 74 barrels of water per day.
The main reservoir objective was encountered as expected but proved to be very low permeability in the upper portion upon production test and water bearing at the base.
There are currently no reserves booked for the L53-D structure.Results to date are far below pre-drill expectations with regard to oil bearing reservoir thickness and areal extent.
Thailand L44 Concession
NSE-G3 Exploration Well (60% WI and operator)
The NSE-G3 exploration well is currently suspended at the casing shoe just below the base of the main NSE central producing volcanic.The deeper volcanic objective in the well was penetrated approximately 175 meters (true vertical depth) deeper than originally anticipated due to a large fault not imaged by 3D seismic data over the prospect as a result of interference from the shallower volcanic objective.
Reinterpretation of the data integrating the well results suggests only a small portion of the original prospect closure is eliminated by this fault. Upon the completion development drilling program currently underway, the well will be re-entered and sidetracked in order to testt his deep volcanic objective in an optimal position.
Summary
For the next three months Pan Orient plans to focus exclusively on development and appraisal drilling of the Bo Rang B, NSE-F1, NSE Central, Na Sanun and NSE South oilfields and workovers / recompletions of existing wells in the NSE Central field in order to increase oil production from these assets. Regular updates on these activities will be provided as results warrant.
An updated exploration prospect inventory for Concessions L44, L33and L53 integrating all the well results to date is near completion and will form the basis for high grading locations for an active exploration drilling program that is planned to commence upon the completion of this current phase of development and appraisal drilling.