Pan Orient Energy Corp. report that the L53-DC1 appraisal well located in the L53 D East oil field area of Concession L53, has encountered approximately 55 meters of net oil pay (true vertical thickness) in six separate sandstone reservoir intervals based on the interpretation of a full suite of open hole wire line logs, mud log data recorded while drilling and offsetting well data. The L53-DC1 well is the first of a planned back-to-back five well program on Concession L53.

The L53-DC1 well was drilled directionally to the NE of the L53-DC well pad to 1,661 meters measured depth (934 meters true vertical depth ("TVD")), within a fault compartment that had not been penetrated by any earlier drilled wells. Oil pay was encountered in the A4, A3, A2, A1 sandstone zones and two shallower sandstone intervals above the A1 zone. All oil bearing sands appear to be oil charged throughout, with no evidence of any oil water contacts within any given sand. This is the first good quality oil pay of significant thickness encountered in the A3, A2, A1 and shallower sandstone zones by any well drilled to date, and highlights the potential of these sands as primary reservoir targets in adjacent, currently undrilled, fault compartments.

Tags: Pan Orient Energy Corp.