****well worth reading****

hi guys

see below announcement from CVN's partner Pan Orient Corp.

gives you some interesting details about JVP Thia assets.

well worth reading carefully..

now if they can only get that sticky black stuff out of the ground..!!!!!!!

Pan Orient Energy looks forward to 2006

2005-12-05 13:55 ET - News Release

Mr. Jason Bednar reports

PAN ORIENT ENERGY RELEASES THIRD QUARTER MESSAGE TO SHAREHOLDERS

Message to shareholders

Throughout the third quarter of 2005, Pan Orient worked on steps necessary to successfully complete the acquisition of Tiger Petroleum Inc. On Oct. 21, the company declared that approximately 92 per cent of the issued and outstanding Tiger shares, and 93 per cent of the total principal amount of the Tiger debentures had been tendered to the company's offer. The remaining 8 per cent is currently being acquired pursuant to the compulsory acquisition provisions contained in the Quebec Companies Act. The process of delisting the shares of Tiger has been initiated.

This acquisition lays the foundation for the first phase of growth of Pan Orient. After giving effect to the Tiger acquisition, using Tiger's Dec. 31, 2004, reserve report, Pan Orient's net asset value (NAV) is approximately $3.52 per share based on the future revenue attributable to 9.06 million barrels of proved plus probable reserves, discounted at 10 per cent after tax plus current working capital. Pan Orient paid $14.69 per net proven barrel acquired, and $1.04 per net proven and probable barrel acquired, inclusive of the terms of settlement with Tiger's 40-per-cent joint venture partner, Carnarvon Petroleum Ltd.

Upon taking up the 92 per cent of Tiger shares on Oct. 20, Pan Orient immediately began constructive discussions with Carnarvon, which culminated on Nov. 30, 2005, with an announcement that terms of settlement had been agreed to. Carnarvon had long-standing unresolved claims on Tiger's Thailand assets. Pan Orient views the Carnarvon settlement as a constructive and critical step in the process of developing the Thailand assets. Pan Orient also believes that the Tiger acquisition and Carnarvon settlement reflect well on the depth of the management and directors of Pan Orient in identifying, evaluating, capturing and restructuring underexploited, undervalued assets with significant exploration and development upside.

The following is a brief summary of the way forward into 2006, which promises to be a year of unprecedented activity within the two Thailand concessions and other areas.

Thailand

L44/43 -- (60-per-cent working interest and operator)

Pan Orient initiated a 3-D seismic environmental impact assessment (EIA) approximately two months ago and anticipates formal government approval for the seismic program by the end of December. Discussions are at an advanced stage with one of the premier international seismic contractors and contract award is anticipated by mid-December with acquisition to start in February, 2006, taking approximately two months to completion. In the interim period, the long lead-time EIA (three months) has been initiated on 35 future drilling locations and is expected be completed toward the end of January. An initial 10 to 15 locations will be high graded on the basis of the newly acquired 3-D with a back-to-back program anticipated to start in April, 2006. In the interim period, Pan Orient is currently reprocessing a small, earlier-acquired 3-D seismic survey where the plan is to choose two locations within the existing production licences to boost current gross production of 150 barrels per day significantly. At an upcoming partner technical meeting scheduled for Dec. 8, 2005, the partnership will also be discussing the merit of drilling further exploration locations outside the region of the new 3-D, prior to the completion of the 3-D in April. A drilling rig is currently stacked within concession L44/43, with a drilling contract award subject to final contract negotiation and partner approval.

Outlook

The year 2006 will be an exciting year of significant activity for Pan Orient. In order to achieve the company's targeted high level of activity, the company anticipates announcements shortly regarding the addition of key personnel.

Pan Orient is fully committed to maintaining a selective new ventures program that will target entry into one more new core country in 2006, and will continue with efforts to expand and enhance its Thailand assets. Its initial growth stage has targeted shallow, onshore, inexpensive oil prospects with a minimum threshold of approximately 10 million barrels per concession net to the company. Next year's activities are focused on providing a platform for the company to expand into carefully selected exposures to significant projects that the management and directors of Pan Orient have had success with in the recent past.