OilVoice - Pan Orient Energy Announces Thailand Operations Update

Pan Orient Energy Announces Thailand Operations Update

Thursday, May 20, 2010

Pan Orient Energy Corp. provides an update on the current situation in Thailand.

At 4:10 p.m. Bangkok time (3:10 a.m. Calgary local time) Pan Orient received a request from PTT, the Thailand national oil company, to curtail crude oil deliveries to the PTT operated Bangkok refinery for the next 24 hours. This request by PTT was a precautionary measure instituted in response to recent events in the Thai capital, Bangkok. Upon receipt of notice from PTT, Pan Orient staff immediately instituted a reduction in field production rates to 5,600 BOPD in order to have the option to continue producing for a three to four day period into approximately 24,000 barrels of onsite oil storage capacity.

Pan Orient has experienced no security related issues at the company's production site, located approximately 260 kilometers north of Bangkok. The company is also not aware of any security related issues at the PTT operated Bangkok refinery, other than this 24 hour production curtailment request.

Pan Orient has no way of knowing the length of time the present situation will continue and has been informed by PTT that Pan Orient will be updated every 24 hours on the status of deliveries to the Bangkok refinery. As detailed above, production operations will continue at reduced rates into existing tank storage at the Wichian Buri production site.

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.