Author Topic: POE.V - Pan Orient Energy  (Read 17525 times)

rkbabang

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Re: POE.V - Pan Orient Energy
« Reply #50 on: November 29, 2018, 07:31:14 AM »
Pan Orient Energy Corp. L53-DD1 Oil Discovery- 779 BOPD
https://www.marketwatch.com/press-release/pan-orient-energy-corp-l53-dd1-oil-discovery--779-bopd-2018-11-29

"Pan Orient Energy Corp. ("Pan Orient") (POE - TSXV) is pleased to announce that the L53-DD1 exploration well is on a 90 day production test and currently producing at a steady state of between 778 to 784 barrels per day.."


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Re: POE.V - Pan Orient Energy
« Reply #51 on: November 29, 2018, 10:26:03 AM »
"Oil sales, net to Pan Orient's 50.01-per-cent interest in the Thailand joint venture for Concession L53, were 210 barrels of oil per day for the first nine months of 2018, with funds flow from operations of $3.1-million ($54.31 per barrel)."

There will be some decline on these new wells but, should be nowhere near shale/horizontal.

So that one well is producing more net to POE than the entire L53 existing production. 2P NAV of L53 net to POE is $0.24/share. I don't think it is crazy to assume that this new development could be worth 2 to 3 times as much: already 2 wells drilled, producing and reserve life is longer than existing L53.

So essentially, development potential in Indonesia is essentially free or near free with cash on hand.

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sculpin

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rkbabang

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Re: POE.V - Pan Orient Energy
« Reply #53 on: December 03, 2018, 07:40:52 AM »
News on L53-DD2
"Pan Orient Energy Corp. ("Pan Orient") (POE - TSXV) is pleased to announce that the L53-DD2 appraisal well is on a 90 day production test and currently producing at a steady state of approximately 659 barrels per day ("BOPD") ... The best sands (AA, BB and CC) based on thickness and reservoir quality, have yet to be tested."

Pan Orient Energy Corp. L53-DD2 Oil Appraisal - 658 BOPD
https://www.marketwatch.com/press-release/pan-orient-energy-corp-l53-dd2-oil-appraisal---658-bopd-2018-12-03-81843835