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Oil & Gas Companys Q2/21 Free Cash Flow Maintains Balance Sheet Strength
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Pan Orient Energy Corp - Thailand Operations Update
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Mineral Fuels Department grants exploration licence to Pan Orient
published : 14 Apr 2021 at 04:00
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The Department of Mineral Fuels (DMF) has awarded an on-shore petroleum exploration and production (E&P) licence, spanning three provinces northwest of Bangkok, to Pan Orient Energy (Siam) to increase domestic crude oil production by 119,000 barrels over the next seven years.
The Petroleum Committee allowed the company to carry out E&P at AA area, spanning 1.86 square kilometres in L53/48 block, in Nakhon Pathom, Suphan Buri and Kanchanaburi, said Supalak Parn-anulak, DMF s spokesman.
He said AA is an additional area granted to Pan Orient, which has already been awarded E&P licences for six on-shore areas, with combined oil production capacity of 3,000 barrels per day (BPD).
News Update
Streetwise Reports (2/25/21) Pan Orient Energy reports the target of the first well, L53-DD10, is the AA sand in the L53-DD field.
Pan Orient Energy Corp. (POE:TSX.V) announced in a news release that the joint venture started drilling the L53-DD10 well at its Thailand concession, the first of a firm two well development drilling program. Pan Orient has a 50.01% interest in the joint venture.
The company noted that the target of L53-DD10 is the AA sand because a second well is needed to produce from there efficiently and economically. The single well producing there now is L53-DD7, which, last year, encountered the thickest and structurally highest AA sand of any previous well in the L53-DD field. It is expected that L53-DD10 will require about 14 days of drilling to reach total depth.
Pan Orient Energy Corp - Thailand Development Drilling Commences
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