Pan Orient Energy: Indonesia operations update

The following is an excerpt from a release by Calgary-based oil, gas firm Pan Orient Energy Corp on its Indonesian operations update. (ed)

Batu Gajah PSC, Sumatra - POE 97% Interest & Operator, Tuba Obi Utara-1Sidetrack Exploration Well

NTO-1ST is currently awaiting repairs to the hydraulic system at a true vertical depth ("TVD") depth of 3,312 feet towards a subsurface Lower Talang Akar formation target approximately 780 meters northeast of the original NTO-1 Lower Talang Akar formation reservoir penetration at a depth of approximately 4,112 feet TVD.

Drilling has been delayed for the past six days after mechanical issues were encountered with the drilling rig mud pumps. Replacement pumps have now arrived on site and drilling is expected to resume in the next two days with drilling estimated to be completed in approximately nine days. (end of excerpt)