Author Topic: POE.V - Pan Orient Energy  (Read 26999 times)

rkbabang

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Re: POE.V - Pan Orient Energy
« Reply #80 on: November 12, 2019, 07:18:59 AM »
Almost ready to drill in Indonesia. And Thailand producing more than originally expected with more wells to drill next year.

Operations update: https://www.globenewswire.com/news-release/2019/11/12/1945389/0/en/Pan-Orient-Energy-Corp-Operations-Update.html

"Thailand oil sales averaged 2,447 BOPD in October 2019 and was 2,697 BOPD on November 9 (this includes L53-DD5ST1 testing). This is substantially above the proven and probable reserves estimated production of approximately 1,432 BOPD in the December 31, 2018 reserves report for this time period."


"INDONESIA
East Jabung PSC (Pan Orient 49% & Non Operator)
Drilling rig acceptance procedures for the Anggun-1X exploration well are estimated to be completed on November 13th with drilling to commence immediately thereafter.  Shareholders will be informed when the well has commenced drilling."



sculpin

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Re: POE.V - Pan Orient Energy
« Reply #81 on: November 14, 2019, 03:06:24 PM »
We are pleased to announce drilling of the Anggun-1X exploration well in Indonesia commenced November 14th and the well is expected to reach total depth in an estimated 20 to 30 days.  The fourth quarter will see preparations for an expanded Thailand exploration and appraisal drilling program that will commence in early January 2020."

The structural complex being targeted by the Anggun-1X well was estimated by Gaffney Cline & Associates (“GCA”) pre AYU-1X in 2015 to hold a Pmean potential of 122.9MMboe (recoverable) net to POE’s interest within the Batu Raja, Gumai and ABF formations.

 
http://www.panorient.ca/images/stories/file/Pan_Orient_Energy_Corp_Jul4-2019_Annual_Special_Meeting_Presentation.pdf

cwericb

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Re: POE.V - Pan Orient Energy
« Reply #82 on: November 18, 2019, 11:48:06 AM »
There has been a lot of criticism of POE for past delays and nothing ever seems to come in on time.

So in the case of the Anggun-1X drill site you just have to ask yourself why would they take the time and go to the extra expense of building a PERMANENT road to access this drill site unless they were pretty damn sure of positive results. Or am I overlooking something?
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 #83 on: November 18, 2019, 11:57:39 AM »
There has been a lot of criticism of POE for past delays and nothing ever seems to come in on time.

So in the case of the Anggun-1X drill site you just have to ask yourself why would they take the time and go to the extra expense of building a PERMANENT road to access this drill site unless they were pretty damn sure of positive results. Or am I overlooking something?

I've thought the same thing.   They've done temporary roads in the past to exploratory drill sites.  It appears that they are fairly confident about this one.  One thing that gives me pause is that they have a huge approved buyback plan, yet the volume has been very low.  Why haven't they been buying back their stock like crazy at these prices?    I hope they don't wait until they hit huge and the stock shoots up to start buying back stock.  Many companies do their buy backs in just that way.  Or is it that they aren't really as confident as they seem?    Fingers crossed.

cwericb

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Re: POE.V - Pan Orient Energy
« Reply #84 on: November 18, 2019, 04:28:51 PM »
They have a lot going on right now, perhaps they want to save cash for more drilling. They had been buying back shares this summer, so perhaps they decided that they want to keep a balance.


 
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 #85 on: December 09, 2019, 07:31:33 AM »
Trading halted "Pending News".

https://finance.yahoo.com/news/iiroc-trading-halt-poe-130000296.html
"VANCOUVER , Dec. 9, 2019 /CNW/ - The following issues have been halted by IIROC:
Company: Pan Orient Energy Corp.
TSX-Venture Symbol: POE (All Issues)
Reason: At the Request of the Company Pending News"

rkbabang

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wachtwoord

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Re: POE.V - Pan Orient Energy
« Reply #87 on: December 10, 2019, 03:03:10 AM »
Terrible news of course, but wow isn't that an overreaction going back to $1.01? There's still Thailand.

Maybe time for those buybacks now  :)
"Beware of he who would deny you access to information, for in his heart he dreams himself your master"

cwericb

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Re: POE.V - Pan Orient Energy
« Reply #88 on: December 10, 2019, 03:45:52 AM »
Glad I resisted the temptation to buy more shares over the past month or so. But if it doesn't bounce this morning I might pick up a few more shares.

Disappointing news, but I think it has overshadowed the successes they have had in Thailand. This company is still healthy with money in the bank and revenue coming in. The price today is back where it was prior to the good news they have had out of Thailand.
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 #89 on: December 10, 2019, 05:56:59 AM »
Glad I resisted the temptation to buy more shares over the past month or so. But if it doesn't bounce this morning I might pick up a few more shares.

Disappointing news, but I think it has overshadowed the successes they have had in Thailand. This company is still healthy with money in the bank and revenue coming in. The price today is back where it was prior to the good news they have had out of Thailand.


I picked some up yesterday.  I couldn't resist.