Pan Orient Energy Corp.
TSX VENTURE : POE

Pan Orient Energy Corp.

July 13, 2007 15:49 ET

Pan Orient Announces Private Placement Closed

CALGARY, ALBERTA--(Marketwire - July 13, 2007) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES.

Pan Orient Energy Corp. (TSX VENTURE:POE) ("Pan Orient") is pleased to report that it has closed its previously announced financing. The company issued, by way of a non-brokered private placement, 1.5 million common shares at $4.25 per share, for gross proceeds of $6,375,000 ($6,056,250 net of finders fee paid). The common shares issued are subject to a four-month hold period.

The net proceeds from the offering will be used by Pan Orient to accelerate exploration on the Company's 100% owned concession L53/48, located onshore Thailand, and new venture opportunities in Thailand, India and Indonesia.

Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently located onshore Thailand and in Western Canada.

The common shares of Pan Orient have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S." Securities Act") or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws. The common shares may also be offered on a private placement basis to institutional investors in the United Kingdom.

41,634,842 common shares issued

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pan Orient Energy Corp.
    Jason Bednar
    Vice President Finance and CFO
    (403) 294-1770
    Email: jason@panorient.ca