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TICKERS: POE

Oil & Gas Firm to Drill Final Well in Current Thailand Program
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Other upcoming work slated for Pan Orient Energy's joint venture-owned concession includes well completions and testing.

In a news release, Pan Orient Energy Corp. (POE:TSX.V) provided an update on its joint venture's oil and gas drill program in Thailand.

The Alberta, Calgary-based energy firm and its partner decided to complete the L53-DD8 well at the onshore L53 concession as a producer.

As such, the rig there will now be moved and used to drill the L53-DD7 appraisal well, the last one in the current drilling program. Then the well will be completed, as a water disposal well or a producer depending on the drill results.

Pan Orient reported that after drilling of L53-DD7 is finished, L53-DD8, L53-BB1 and, potentially, L53-DD7 will be completed. Subsequently, production testing will start on the L53-AA2 exploration well, for which approval was recently obtained. At that time, the beam pump at the L53-DD5ST1 well will be swapped out for an electrical submersible pump and production there restarted.

As for the L53AC-E exploration well, the partners deferred drilling of it until late 2020. The timing of that will depend on the status of oil prices and the COVID-19 pandemic, the company noted.

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Disclosure:
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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