Pan Orient Energy Corp.: AYU-1X Drilling Update

CALGARY, ALBERTA--(Marketwired - July 31, 2017) - Pan Orient Energy Corp. ("Pan Orient" or the "Company") (TSX VENTURE:POE) is providing an operations update.

INDONESIA

East Jabung PSC (Pan Orient 49% & Non Operator)

The operator of the East Jabung Production Sharing Contract has advised that the AYU-1X exploration well commenced drilling on July 29^th, a nine day delay from the anticipated July 20^th date discussed in Pan Orient's July 5^th press release.

It is anticipated that the well will reach total depth on or about August 31^st, 33 days from the commencement of drilling.

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

This press release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "anticipate" and "potential" or other similar wording. Forward-looking information in this press release includes references, express or implied, to drilling plans in Indonesia. By its very nature, the forward-looking information contained in this press release requires Pan Orient and its management to make assumptions that may not materialize or that may not be accurate. In addition, the forward-looking information is subject to known and unknown risks and uncertainties and other factors, some of which are beyond the control of Pan Orient, which could cause actual results, expectations, achievements or performance to differ materially. Although Pan Orient believes that the expectations reflected in its forward-looking information are reasonable, it can give no assurances that those expectations will prove to be correct. Pan Orient undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.