Author Topic: POE.V - Pan Orient Energy  (Read 22744 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.."


Cardboard

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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

paperwerks

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Re: POE.V - Pan Orient Energy
« Reply #54 on: February 16, 2019, 08:10:57 PM »
Another positive update here:

http://globenewswire.com/news-release/2019/02/14/1725461/0/en/Pan-Orient-Energy-Corp-Operations-Update.html

Pan Orient is a Dhando type investment. Heads I don’t lose anything or I only lose a little and tails I win 5-10 times my money. And we will know the results of Anggun by June or July at the latest. The market is asleep on this.

rkbabang

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Re: POE.V - Pan Orient Energy
« Reply #55 on: February 28, 2019, 06:59:57 AM »

Thailand L53-DD4 Well Confirms L53DD Oil Field Extension
http://globenewswire.com/news-release/2019/02/28/1744340/0/en/Thailand-L53-DD4-Well-Confirms-L53DD-Oil-Field-Extension.html

"Pan Orient Energy Corp is pleased to announce that the L53-DD4 appraisal well encountered an interpreted, combined 15.6 meters of net oil pay ..."

cwericb

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Re: POE.V - Pan Orient Energy
« Reply #56 on: March 01, 2019, 04:23:30 AM »
About a year and a half ago I put this in the “file it and forget it” basket and only took a look at it again last week.

Interesting times indeed.

Stock price up 33% this month and 91% in the past twelve months. The potential is just developing and the downside risk is limited.

Am I not right in that the big bounce in the stock price this time around is based on actual test results compared to previous bounces that were mostly based on speculation?
Politicians and diapers must be changed often, and for the same reason. - Mark Twain

rkbabang

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Re: POE.V - Pan Orient Energy
« Reply #57 on: March 01, 2019, 05:54:59 AM »
About a year and a half ago I put this in the “file it and forget it” basket and only took a look at it again last week.

Interesting times indeed.

Stock price up 33% this month and 91% in the past twelve months. The potential is just developing and the downside risk is limited.

Am I not right in that the big bounce in the stock price this time around is based on actual test results compared to previous bounces that were mostly based on speculation?

Yes, there has been some recent good results in Thailand, but the potential in Indonesia isn't even priced in at all, not even as speculation.  This is a lottery ticket where you can get your dollar back if you don't win.

I agree with paperwerks above, the market is asleep.


rkbabang

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Re: POE.V - Pan Orient Energy
« Reply #58 on: March 14, 2019, 10:41:05 AM »
PAN ORIENT ENERGY CORP.: 2018 Year End Financial & Operating Results
https://seekingalpha.com/pr/17444189-pan-orient-energy-corp-2018-year-end-financial-and-operating-results

""2018 was an excellent year for the Thailand operation with substantial increases in year-end reserves and production as a result of the L53-DD oil discovery made in October.  This was then followed up with the success of the L53-DD4 appraisal well confirming oil in a fault compartment that had been assigned possible reserves in the year-end 2018 reserve report. The success at L53-DD highlighted the hydrocarbon potential of the northern portion of Concession L53 and provided an increased understanding of the petroleum system in the immediate discovery area.  As a result of post discovery analysis, an aggressive four to five well exploration drilling program is planned for the remainder of 2019 with the first 2 wells to commence in July.

Approval of the L53-DD Production License is anticipated in April 2019, at which point the L53-DD1 & L53-DD2 wells will be brought back on stream.  A 90 day test application has been submitted for the recently completed L53-DD4 well with approval anticipated shortly. The L53-DD3 appraisal well is currently drilling through the target zone to a total depth that will be reached shortly.

Construction for the Anggun-1X exploration well in Indonesian East Jabung PSC has been making steady progress despite heavy rain at times.  The operator has indicated rig mobilization is anticipated to commence in early May with drilling to start in late June to July, subject to weather, of course.  Of note, press reports indicate that Repsol, the operator of the East Jabung PSC, has made a significant gas discovery in the nearby Sakakemang PSC.  This large discovery has resulted in significant interest by industry players and has highlighted the potential for large discoveries still to be made within this region of South Sumatra."   

rkbabang

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Re: POE.V - Pan Orient Energy
« Reply #59 on: March 20, 2019, 07:43:18 AM »
"the L53-DD3 appraisal well encountered an interpreted combined approximately 38.5 meters of true vertical thickness net oil pay ... This is the thickest net oil pay encountered in any of the L53-DD fields to date."

https://www.globenewswire.com/news-release/2019/03/18/1756295/0/en/Pan-Orient-Energy-Corp-Thailand-L53-DD3-Appraisal-Well.html