Pan Orient Energy Corp. (“Pan Orient” or the “Company”) (TSX VENTURE:POE) is providing an operations update. INDONESIA East Jabung PSC (Pan Orient 49% & Non Operator) The East Jabung Production Sharing Contract (“PSC”) AYU-1X exploration well reached a total depth of 1,140 meters within the granitic basement on August 21 and has now been logged …
East Jabung PSC (Pan Orient 49% & Non Operator)
The East Jabung Production Sharing Contract (“PSC”) AYU-1X exploration well reached a total depth of 1,140 meters within the granitic basement on August 21 and has now been logged and pressure/fluid samples have been collected. Preliminary interpretation of the wireline logs, supported by pressure data and oil samples, indicates approximately 5.5 meters of high porosity net oil pay at the top of good quality reservoir in the Batu Raja limestone. Significant indications of hydrocarbons in the form of oil shows and high gas readings in well-developed sands of Gumai age were also found. Additional drilling will be required to establish the commerciality of the Ayu, Elok and Anggun structural complex.
Based on the encouraging post drill assessment of the results at AYU-1X, the joint venture has elected to commence the drilling of the ELOK-1X well immediately, which will sidetrack from the AYU-1X wellbore to a subsurface location approximately 700 meters south of the AYU-1X well location, targeting a potential thick apron of Lower Talang Akar sandstones on-lapping the AYU-1X high. ELOK-1X will qualify as the second commitment well and complete the first phase exploration well commitments for the East Jabung PSC and is anticipated to take approximately 30 days to reach total depth. The timing of further activities in the PSC area will be one of the main topics of discussion at an upcoming partners meeting.
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.
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President and CEO (located in Bangkok, Thailand)
Pan Orient Energy Corp.
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