Pan Orient updates Indonesia ops

The following in an excerpt taken from Calgary-based oil, gas firm Pan Orient Energy Corp.'s report released Tuesday. (ed)

Citarum PSC - Onshore Java (Pan Orient Operator & 77% Working Interest)

Site construction has been completed for the Jatayu-1 well, is currently underway for the Cataka-1 well, and will be followed thereafter for the third well location. All drilling services contracts have been awarded. The drilling rig is currently stacked in close proximity to the Cataka-1well location and will be moved onto the Cataka-1 well site and commence drilling upon the completion of the drill pad construction which is anticipated in mid-November 2011. The Cataka-1 well will be the first of a three well back to back exploration program that is anticipated to continue into the first two months of 2012.

Batu Gajah PSC - Onshore Sumatra (Pan Orient Operator & 97% Working Interest)

All forestry, environmental and AFE approvals are in place for a two well exploration program with the Tuba Obi Utara-2 (NTO-2) well and the Shinta-1well. Road access and land use agreements with the forestry plantation operator remain ongoing for Shinta-1 and are expected to be in place by year end. Commencement of drilling of the first well, subject to road access and land use negotiations, is anticipated in the first quarter of 2012.

East Jabung PSC - On/Offshore Sumatra (Pan Orient Operator &100% Working Interest)

As disclosed earlier, Pan Orient has been advised by the Government of Indonesia that it is the successful bidder for the East Jabung PSC. The official PSC signing ceremony is anticipated to take place anytime between late October and year end, at which time activities will commence for the drilling of the first well planned for late 2012.

South CPP PSC - Onshore Sumatra (Pan Orient Operator & 97% Working Interest)

Preparations are currently underway for a 200 line kilometer 2D seismic program in 2012.(end of excerpt)