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Thailand Exploration Well Hits Net Oil Pay
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The well will be production tested after the required permit is obtained.

Pan Orient Energy Corp. (POE:TSX.V) announced in a news release that its joint venture-owned L53-DD6ST1 exploration well in Thailand encountered about 5 meters (5m) of interpreted net oil pay within the CC sandstone at a true vertical depth of 1,031m.

As such, an application for a 90-day production test in the CC sand was submitted to the Thailand government for approval.

L53-DD6ST1's interpreted net oil pay is in a "distinctly separate structural closure" relative to all wells drilled to date, the release noted. Specifically, it is about 529 meters northwest of the previously reported L53-DD5ST1 oil discovery, or AA South prospect, and 1,035 meters west of the L53-DD oilfield well pad.

The AA prospect will be drilled further as part of the ongoing 2019 program. It will be drilled at a surface location from which the AA prospect's structural crest can be reached. Also to be drilled is another prospect to the northwest, AA North.

Before L53-DD6ST1 was drilled, the L53-DD6 exploration well was drilled, targeting various sandstones within the L53-DD6, or AA East, prospect. L53-DD6 drilling, however, was not successful.

Regarding Pan Orient's joint venture in Indonesia, the company stated that its Anggun-1X exploration well is slated for the start of drilling sometime this month.


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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