CALGARY, Alberta, March 19, 2019 (GLOBE NEWSWIRE) -- Pan Orient Energy Corp. (“Pan Orient”) (POE – TSXV) announced today that it granted options to directors, officers employees and consultants to purchase an aggregate of 1,375,000 common shares under Pan Orient’s stock option plan. Each option has an exercise price of $1.90 (being the March 18, 2019 closing price of the shares on the TSX Venture Exchange), vests as to one-third on the grant date and one-third on each of the first and second anniversaries of the grant date and expires on March 19, 2024. Options to purchase 5,365,000 common shares are now outstanding, equal to 9.8% of Pan Orient's 54,990,407 outstanding common shares, at exercise prices ranging from $0.89 to $1.90.
CALGARY, Alberta, March 18, 2019 (GLOBE NEWSWIRE) -- Thailand Onshore Concession L53 (Pan Orient Energy (Siam) Ltd., in which Pan Orient has 50.01% ownership)
CALGARY, Alberta, March 14, 2019 (GLOBE NEWSWIRE) -- Pan Orient Energy Corp. (“Pan Orient”) (POE – TSXV) reports 2018 year-end and fourth quarter consolidated financial and operating results. Please note that all amounts are in Canadian dollars unless otherwise stated and BOPD refers to barrels of oil per day.
CALGARY, Alberta, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Pan Orient Energy Corp. (“Pan Orient”) (POE – TSXV) is providing an operations update. Commenting today on Pan Orient’s upcoming 2019 drilling programs in Thailand and Indonesia, President and CEO Jeff Chisholm stated: "The 2019 Thailand and Indonesia drilling programs will be evaluating the largest prospective resource base that the company has ever targeted in any given year, and it will also be one of the most balanced from an overall risk perspective. A two well appraisal drilling program at the L53-DD oil field is currently underway with the L53-DD4 well targeting an undrilled possible (3P) reserve fault compartment north of the existing field. Mid to late Q2 2019 will see the drilling of the Anggun-1X exploration well in Indonesia, a well located substantially updip and on the same structural closure as the earlier AYU-1X well that encountered strong hydrocarbon indications within Gumai formation sandstone reservoirs and oil within the Batu Raja limestone formation. Late Q3 to Q4 2019 will see a three to four well exploration drilling program in Thailand with three of the prospects located “close in” to the recent L53-DD oil discovery, within the now upgraded Suphon Buri Basin in the northern portion of the L53 concession. Providing a solid financial backstop for this drilling program, and the flexibility to exploit any success, is the substantial increase in Thailand production as a result of the discovery at L53-DD and the company’s Cdn$39.6 million working capital and non-current deposits balance at September 30, 2018.”
