Rigs are a scarce commodity and the JV has 2 on long term cheap...

Rigs are a scarce commodity and the JV has 2 on long term cheap rates working almost around the clock, lol...... are they getting their moneys worth! They'll be serviced in january hence the slight drop in wells drilled,, then its back to pace. However its the mighty Bo Rang in that slower qtr which compensates well enough, imo.

Looking over recent announcements again, what amazes is the feverish pace

Q1,'08 ...... 4-6 wells drilled
Q2,............ 6-8 " "
Q3,............ 6-8 " "
Q4,............ 6-8 " "

Compare this pace with other companies turn around times.... Pan Orient team are in the CVN's estimation have a "strong drilling management with innovative ideas to reduce overheads and drilling times",,,,,, cant argue with that. At best, a result every 12 days unless they squeeze more effiencies.

Another point of difference, alot of companys make a song and dance over spudding, but Pan Orient just goes forges ahead with out much ado. For instance WB-1 was 900m's into its 1500m TD as the first notice of progress. They're on a mission,, no theatrics, just full bore ahead. Love it.

Its Regards WB-1, CVN indicated (13/12) that it will exceed 500BOPD :

"The previous operator did not evaluate this deeper volcanic zone in WB-1 but completed the shallower conventional F sandstone reservoir which tested oil at 500 bopd and is still producing oil 19 years on. "

,,, And later on reconfirms this bullish outlook but significantly after the L44H-D1 4000 BOPD paragraph:

'The Carnarvon CEO Ted Jacobson commented: “Once again the Na Sanun East Field has
delivered a pleasant surprise with the L44H-D1 well flowing at a record rate of near on 4,000
bopd. Although sales of oil is currently restricted to between 5,500 to 6,000 bopd by
infrastructure limitations, the operator Pan Orient is working hard to significantly upgrade
production facilities over the coming months with significant results already being achieved.

Located around 10-15 kms to the northwest, the Wichian Buri structure is separate to the Na
Sanun and Na Sanun East structures. The WB-1 (Deep) well, currently being drilled on the
Wichian Buri structure, is an evaluation of a volcanic reservoir drilled in 1988 by a previous
joint venture. The degree of mud losses and oil staining in the previously drilled well WB-1
is encouraging for possible good flow rates in this new well WB-1 (Deep).'