Pan Orient Energy Corp. (POE:TSX.V) announced in a news release that its joint venture-owned L53-DD6ST1 exploration well in Thailand encountered about 5 meters (5m) of interpreted net oil pay within the CC sandstone at a true vertical depth of 1,031m.
As such, an application for a 90-day production test in the CC sand was submitted to the Thailand government for approval.
L53-DD6ST1's interpreted net oil pay is in a "distinctly separate structural closure" relative to all wells drilled to date, the release noted. Specifically, it is about 529 meters northwest of the previously reported L53-DD5ST1 oil discovery, or AA South prospect, and 1,035 meters west of the L53-DD oilfield well pad.
The AA prospect will be drilled further as part of the ongoing 2019 program. It will be drilled at a surface location from which the AA prospect's structural crest can be reached. Also to be drilled is another prospect to the northwest, AA North.
Before L53-DD6ST1 was drilled, the L53-DD6 exploration well was drilled, targeting various sandstones within the L53-DD6, or AA East, prospect. L53-DD6 drilling, however, was not successful.
Regarding Pan Orient's joint venture in Indonesia, the company stated that its Anggun-1X exploration well is slated for the start of drilling sometime this month.
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