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Energy Firm's Newly Online Wells Boost Oil Production
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The company plans another exploration and appraisal drill program there this year.

Pan Orient Energy Corp. (POE:TSX.V) announced in a news release that its L53 concession in Thailand produced an average of 2,824 barrels of oil per day (2,824 bbl/d) between April 27 and May 6, 2019.

Of that total, 2,468 bbl/d came from the four wells in the L53-DD that began stable production on that same date.

Pan Orient, which has a 50.01% equity interest in the concession, also reported initial production results for L53-DD3 and L53-DD4, producing for the first time, and L53-DD1, producing from a new zone.

From most to least, L53-DD4 averaged 729 bbl/d of 23.8 API oil; L53-DD3, the target of a current workover, averaged 570 bbl/d of 23.5 API oil; and L53-DD1 averaged 514 bbl/d of 23.5 API oil.

Also, restarted L53-DD2 production from the BB/CC sand averaged 883 bbl/d.

Looking forward, a multiwell drill program is slated to start in late July/early August 2019.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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