reserves report out

Pan Orient Announces 2008 Year End Thailand Reserves Update
CALGARY, ALBERTA--(Marketwire - March 16, 2009) -

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Pan Orient Energy Corp. (TSX VENTURE:POE) today released its 2008 year-end Thailand reserves estimates, as evaluated by Gaffney Cline & Associates Ltd., Singapore.

Highlights:

- Net present value (discounted 10 AFTER Tax - forecast prices) of $357 million ($7.83 per Pan Orient share) attributed to its Thailand Proven + Probable reserves, an increase of 42% from $252 million in prior year.

- Proven + Probable Thailand recoverable reserves of 25.0 million barrels of oil, an increase of 47% from 17.0 million barrels in prior year.

- Proven Thailand recoverable reserves of 5.58 million barrels of oil, an increase of 45% from 3.85 million barrels in prior year, excluding production of 1.75 million barrels net to Pan Orient during 2008.

- Proven + Probable + Possible Thailand recoverable reserves assessed at 55.3 million barrels.

- Reserves do not include 3.85 million barrels of mid-case estimated contingent resources assigned to the L44-R structure.