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News Update


Oil & Gas Company Continues Second Drilling Phase in Thailand
News Update

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Pan Orient Energy provides an update on each of its various joint venture wells in Thailand.

In a news release, Pan Orient Energy Corp. (POE:TSX.V) announced that governmental approval was received for a 90-day production test of the L53-AA2 exploration well in Thailand and that that work should start later this month.

Drilling of L53-AA2 is part of the second phase of drilling at the L53 Concession, which kicked off in late June.

APan Orient Energy noted that drilling of the L53AC-E exploration well was pushed back to late 2020.

The water disposal well L53-DD8 will be drilled once a rig is mobilized to the L53-DD drilling pad. L53-DD8 "is expected to encounter shallow untested sands before penetrating the main sandstone reservoirs in the vicinity of their inferred oil water contacts substantially downdip from the crest of the structure," the release noted.

Also, once the Thailand government approves a 90-day production test, the L53-BB1 well will be drilled to confirm the previously interpreted result that L53-BB1ST1 encountered an estimated combined 10.55 meters of possible oil pay.

Pan Orient Energy noted in the release, too, that the COVID-19 pandemic has affected its Thailand operations but that it and its joint venture entity are "well positioned to withstand these unprecedented events." The company added that it is "optimistic about a slow return to normal operations and less volatile market conditions, but the outlook for world oil prices remains challenging."


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