POE Pan Orient Energy Corp

Pan Orient Energy Corp. (TSX VENTURE:POE) 

INDONESIA OPERATIONS UPDATE

Citarum PSC (Pan Orient Operator and 77% Working Interest) 

Jatayu-1 Exploration Well 

The Jatayu-1 exploration well, located onshore Indonesia will be suspended with
the setting of 4.5" casing down to 6,640 feet measured depth. Upon completion of
the casing of the well, the rig will mobilize to the Geulis-1 exploration
location with drilling expected to commence on this well in approximately 3 to 4
weeks. During this period, a service rig is planned to be mobilized onto the
Jatayu-1 location and to commence drilling the additional approximately 1,300
feet to the Parigi limestone target utilizing slim hole drilling equipment. By
placing the unstable, over pressured and gas charged open hole section in
Jatayu-1 behind 4.5" casing, it is believed that drilling fluid losses can be
mitigated going forward by allowing, safely, significantly lower mud weights.  


With a three week time frame required to mobilize the slim hole drilling
equipment to the Jatayu-1 well site, the operation detailed above is expected to
result in significant cost savings by not requiring the current drilling rig to
go on standby. It is estimated that without significant further drilling
problems, the Jatayu-1 will be completed to target depth for approximately $1.5
million USD.  


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.

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