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News Update


Monthly Oil Sales from Thailand Project a Record Again for Energy Firm
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The company also is on the cusp of spudding an exploration well in Indonesia.

Pan Orient Energy Corp. (POE:TSX.V) provided in a news release an update on its operations in Thailand and Indonesia.

In Thailand, oil sales from the L53 concession hit a monthly record again in June since 2019. Sales averaged 3,079 barrels per day (3,079 bbl/day) of oil. For Pan Orient, with a 50.01% ownership in the project, this equaled a net 1,540 bbl/day of oil.

In Indonesia, the East Jabung Production Sharing Contract, in which Pan Orient has a 49% interest, received a drill rig contract for the upcoming Anggun-1X exploration well.

The next step for Anggun-1X is a pre-well spud meeting to be held on July 11 in Jakarta. Then drill rig mobilization to the site is expected to start between July 25 and Aug. 2, followed by the onset of drilling, between Aug. 24 and Sept. 11.


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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