POE Pan Orient Energy Corp

Pan Orient Energy Corp. (TSX VENTURE:POE)

Indonesia Citarum PSC - (Pan Orient Operator and 97% Working Interest) 

Cataka-1A Exploration Well

The decision has made to abandon the Cataka-1A exploration well before reaching
its Paragi Limestone primary objective. The well encountered numerous intervals
of severely tectonically fractured shale that were highly unstable, particularly
in this directionally drilled deviated well bore. The company believes that to
continue drilling would not be prudent given the difficulties encountered to
date and the low probability of reaching the final objective.


The data gathered from the Cataka-1A well will be analysed over the coming weeks
and the company will initiate farm-out process seeking a partner for the Citarum
Production Sharing Contract which possesses an attractive large cost recovery
pool, good fiscal terms for natural gas and significant prospectivity within a
region of existing infrastructure and a large deficit of natural gas supply
relative to demand. 


Thailand - Concession L53 (Pan Orient Operator and 100% Working Interest)

The company will issue an operations update covering the recently completed
onshore Thailand Concession L53 drilling program within the next few weeks, at
which time testing will have commenced on the recently drilled L53-G1 well and
testing completed on three other wells in the recent program.


Pan Orient is a Calgary, Alberta based oil and gas exploration and production
company with operations located onshore Thailand, Indonesia and in Western
Canada.


Readers are cautioned that well test results are not necessarily indicative of
long-term performance or of ultimate recovery.

This news 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 news release includes, but is not
limited to, references to: well drilling programs and drilling plans, estimates
of reserves and potentially recoverable resources, and information on future
production and project start-ups. By their very nature, the forward-looking
statements contained in this news release require Pan Orient and its management
to make assumptions that may not materialize or that may not be accurate. The
forward-looking information contained in this news release is subject to known
and unknown risks and uncertainties and other factors, which could cause actual
results, expectations, achievements or performance to differ materially,
including without limitation: imprecision of reserve estimates and estimates of
recoverable quantities of oil, changes in project schedules, operating and
reservoir performance, the effects of weather and climate change, the results of
exploration and development drilling and related activities, demand for oil and
gas, commercial negotiations, other technical and economic factors or revisions
and other factors, many of which are beyond the control of Pan Orient. Although
Pan Orient believes that the expectations reflected in its forward-looking
statements are reasonable, it can give no assurances that the expectations of
any forward-looking statements will prove to be correct.


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)
jeff@panorient.ca


Bill Ostlund
Vice President Finance and CFO
(403) 294-1770

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