CALGARY, Alberta, July 04, 2019 (GLOBE NEWSWIRE) --
THAILAND
Onshore Concession L53 (Pan Orient Energy (Siam) Ltd., in which Pan Orient has 50.01% ownership)
Pan Orient Energy Corp. (“Pan Orient”) (POE – TSXV) is pleased to announce that Concession L53 oil sales averaged 3,079 BOPD (1,540 BOPD net to Pan Orient's 50.01% equity interest) for the month of June, a monthly record for the concession going back to 2010.
INDONESIA
East Jabung PSC (Pan Orient 49% & Non Operator)
Pan Orient has been informed by the operator of the East Jabung Production Sharing Contract (“PSC”) that the drilling rig contract for the upcoming Anggun-1X exploration well has been awarded.
A pre-well spud meeting will be held in Jakarta on July 11, 2019. Drilling rig mobilization is anticipated to start sometime between July 25th and August 2nd and the commencement of drilling is anticipated between August 24th to September 11th.
The July 4, 2019 Pan Orient Annual and Special Meeting presentation is available on the Company’s website: www.panorient.ca.
Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently located onshore Thailand, Indonesia and in Western Canada.
This press release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "anticipate" and "potential" or other similar wording. Forward-looking information in this press release includes references, express or implied, to drilling plans in Indonesia. By its very nature, the forward-looking information contained in this press release requires Pan Orient and its management to make assumptions that may not materialize or that may not be accurate. In addition, the forward-looking information is subject to known and unknown risks and uncertainties and other factors, some of which are beyond the control of Pan Orient, which could cause actual results, expectations, achievements or performance to differ materially. Although Pan Orient believes that the expectations reflected in its forward-looking information are reasonable, it can give no assurances that those expectations will prove to be correct. Pan Orient undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Pan Orient Energy Corp.
Jeff Chisholm, President and CEO (located in Bangkok, Thailand)
Email: jeff@panorient.ca
- or -
Bill Ostlund, Vice President Finance and CFO
Telephone: (403) 294-1770