new announcement, page-2

And its good :) Another 2300 bopd from L33.



Pan Orient Energy Corp.: L33-2 Exploration/Appraisal Well Tests at 2,370 BOPD

CALGARY, ALBERTA--(Marketwire - Aug. 11, 2010) - Pan Orient Energy Corp. (TSX VENTURE:POE)

Concession L33 (POE 60% Working Interest and Operator)

L33-2 Exploration / Appraisal Well

The L33-2 well has tested on free flow, 38 degree API crude at an average rate of approximately 2,370 BOPD gross (1,422 BOPD net POE) with a water cut of less 0.05% during the last 15 hours of a 36 hour test.

The L33-2 well was drilled from a surface location approximately 1.8 kilometers south of the L33-1 discovery well and was targeting the same L33-1 volcanic zone within an interpreted potential 9.8 square kilometer maximum areal extent structural closure. The variation in crude oil gravity (35 degree API at L33-1 compared with 38 degree API at L33-2) suggests the two structural culminations at L33-1 and L33-2 may be separate accumulations. The extent of the oil accumulations in the structures of L33-1 and L33-2 will not be known until the oil water contacts have been defined by additional appraisal drilling.

Now that L33-2 well has been tested and proven oil bearing, a production license application is being prepared and a submission of the final document to the Thailand Department of Mineral Fuels (DMF) has been targeted for the first week of September 2010. Until a production license is approved by the DMF, historically 90 days from the date of the application submission, no production may be sold from wells in Concession L33 since a point of sale as established by a production license does not exist within the concession.

Concession L44 (POE 60% Working Interest and Operator)

WBEXT-1 (Wichian Buri Extension-1) Exploration Well

The WBEXT-1 well is currently back on production and free flowing 35 degree API oil at a rate of over 2,500 BOPD gross (1,500 BOPD net POE) with a water cut of less than 0.05 percent. Approval by the DMF of a 90 day production test was received on August 9, 2010. Three Additional appraisal wells are planned for this discovery while the 90 day production test is underway. A production license application is expected to be submitted to the DMF upon the completion of three additional appraisal wells.

WBEXT-1A (Wichian Buri Extension-1A) Appraisal Well

The WBEXT-1A well is the first of three appraisal wells planned to be drilled from the WBEXT-1 surface location pad, and is currently logging prior to running intermediate casing at a depth of 549 meters true vertical depth (TVD). The top of the main volcanic objective is expected to be penetrated at a subsurface location approximately 525 meters north of the WBEXT-1 penetration.

The two potential sandstone reservoirs encountered by the WBEXT-1 exploration well are also expected to be encountered in the WBEXT-1A appraisal well and a full open hole logging program is planned over these untested potential sandstone reservoirs. In the event that suitable reservoir characteristics are interpreted from wireline logs, one of the future wells drilled from the WBEXT-1 surface location pad will be designed to specifically target these zones.