Pan Orient Energy Corp. (POE:TSX.V) announced in a news release it achieved success with its L53-DD5ST1 exploration well in Thailand.
The well hit about 15 meters (15m) of net oil pay, consisting of 12m within the CC sand and 3m within the deeper EE sand. It encountered the CC sandstone reservoir at a true vertical depth of 1,057m. This was about 737m southwest of the L53-DD well pad "and within a distinctly separate structural closure relative to the L53-DD oil field that was discovered in late 2018," the release noted.
A 90-day production test application for the CC sand has been submitted to the Thailand government for approval. Testing will likely start right after the drilling rig has been demobilized, which will follow completion of drilling the L53-DD6 exploration well. That work is now in progress and expected to be done in about 14 days.
Before the drilling of L53-DD5ST1, drilling of the L53-DD5 exploration well took place. It encountered 3m of net oil pay in the main target CC sand in the L53-DD5 prospect.
As for Pan Orient's joint project in Indonesia, the Anggun-1X well pad and road are now built. Base camp mobilization started on Aug. 25 and drill rig mobilization began Sept. 14. Drilling at Anggun-1X is slated to commence in about 30 to 40 days.
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