Pan Orient Energy Updates Thai Appraisal Well

Pan Orient Energy (TSXV:POE) has released an update for its ongoing drill program at the Thailand onshore concession.

As quoted from the press release:

Pan Orient Energy is pleased to announce that the L53-DD3 appraisal well encountered an interpreted combined approximately 38.5 meters of true vertical thickness net oil pay within five separate sandstone reservoirs between a true vertical depth of 927.4 to 1,127.9 meters. This interpretation was based on conventional open hole wire line logs, hydrocarbon indications observed while drilling, pressure data and correlation with the offsetting L53-DD2 well. This is the thickest net oil pay encountered in any of the L53-DD fields to date.

The L53-DD3 well was drilled to a measured depth of 1,380 meters (1,110 meters true vertical depth) from the same well pad as the previous three L53-DD wells, to a bottom hole location approximately 600 meters southwest of the surface location. L53-DD3 was planned as essentially a twin of the previously drilled L53-DD2 well and the results have far exceeded the original pre-drill expectations with a net oil pay thicker than that encountered at L53-DD2 and the top of the main BB/CC sand came in approximately 9.3 meters high to that seen at L53-DD2. In addition, oil pay was encountered in the AA2 sand, as had been seen earlier at the L53-DD4 well, in addition to a new hydrocarbon zone above the AA sand.

A 90 day production test application for the L53-DD3 well has been submitted to Government of Thailand (“GOT”) for approval. The company is still awaiting GOT approval for the 90 day test of the L53-DD4 well drilled previously.

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