Pan Orient updates Indonesia operations

The following is an excerpt from Pan Orient Energy?s report released on Tuesday on Indonesian operations. (ed)

Citarum PSC (Pan Orient 77% working interest and operator)

Jatayu-1 Exploration Well
The Jatayu-1 exploration well commenced drilling on February 15, 2011. The well is currently drilling ahead at a depth of 1,183 meters TVD towards a limestone reservoir objective estimated at 2,200 meters depth TVD. The upper 800 meters of the well penetrated a very thick volcanic clastic section resulting in very low penetration rates. Drilling is anticipated to be completed within the next 21 days.

Upon the completion of drilling at the Jatayu-1 well, the rig will, dependent on weather conditions, mobilize back to the Cataka prospect and then to the Geulis prospect. Should the heavy rains currently being experienced continue, the rig will mobilize to the Geulis prospect and then to the Cataka prospect. (end of excerpt)