Pan Orient Energy Corp.

Pan Orient Energy Corp.

May 20, 2010 08:27 ET

Pan Orient Energy Corp.: Thailand Crude Oil Deliveries to Resume

CALGARY, ALBERTA--(Marketwire - May 20, 2010) -

Pan Orient Energy Corp. ("Pan Orient") (TSX VENTURE:POE) is pleased to announce that the Company was notified in the afternoon of May 20 (Bangkok local time) that crude oil deliveries are to resume to the Bangkok area refinery on May 21 and May 22 restricted to between the hours of 7 a.m. to 3 p.m. The limited hours of operations is in response to the Government of Thailand announced curfew that from the most recent government statements is believed to be in effect until the morning of May 23, at which time thereafter, the Company anticipates crude oil deliveries will revert to their normal schedule.

Disruption to Pan Orient's Thailand operations has been minimal, without incident and limited to a less than 48 hour period during which time the company produced oil into tank storage at modestly restricted rates and experienced no impact to its active onshore Thailand Concession L44 development drilling program.

Pan Orient will provide immediate updates to the current situation as further information becomes available or the company becomes aware of any changes to the current situation.

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 news 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 news release includes, but is not limited to, references to: well drilling programs and drilling plans, estimates of reserves and potentially recoverable resources, and information on future production and project start-ups. By their very nature, the forward-looking statements contained in this news release require Pan Orient and its management to make assumptions that may not materialize or that may not be accurate. The forward-looking information contained in this news release is subject to known and unknown risks and uncertainties and other factors, which could cause actual results, expectations, achievements or performance to differ materially, including without limitation: imprecision of reserve estimates and estimates of recoverable quantities of oil, changes in project schedules, operating and reservoir performance, the effects of weather and climate change, the results of exploration and development drilling and related activities, demand for oil and gas, commercial negotiations, other technical and economic factors or revisions and other factors, many of which are beyond the control of Pan Orient. Although Pan Orient believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct.

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.

Contact Information

  • Pan Orient Energy Corp.
    Jeff Chisholm
    President and CEO
    (403) 294-1770
    Pan Orient Energy Corp.
    Bill Ostlund
    Vice President Finance and CFO
    (403) 294-1770