Pan Orient Energy Corp (PK) (POEFF) Quote

CANASIA ENERGY CORP.
Press Release
Completed Purchase of Andora Minority Shares
CALGARY, MARCH 27, 2023


https://canasiacorp.com/march-27-2023-press-release/

Maybe they will finally do something with the Swan Lake project. They either need to develop it or sell it. If they cant make money at the prevailing prices there is something very wrong. JMHO

TSXV:CEC
Last Price: 0.260
Total Return since Inception: - 25.71%
Market Cap: C$12.95M
Average 10D Volume: 61.34K
Shares Outstanding: 49.79M
Volatility (1Y): 486.12

Pan Orient Energy Corp. changed to Canasia Energy Corp.

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

Plan of Arrangement. Pursuant to the Plan, holders will receive a (i) cash consideration of USD $0.788 and (ii) one CanAsia Share for each share of Pan Orient Energy held.

https://otce.finra.org/otce/dailyList?viewType=Deletions

you'll find your answer here https://investorshub.advfn.com/boards/read_msg.aspx?message_id=133906995
not all company's are structured the same

Jabung is going to be Huuuuge!

http://www.valuewalk.com/2017/03/biggest-natural-gas-discovery/?all=1

!Qazaq11

Canadian heavy oil demonstration project is well under way. POE is parent company (about 72 per cent stake) in Andora, which is drilling a horizontal well pair for its SAGD production, on lands shared with JV partners Deep Well Oil& Gas Inc. (DWOG) and France's second-largest oil company, Maurel et Prom (with subsidiaries). Much more info on the DWOG message board re progress of the project.

A Motley fool article on POEFF/POE.v

http://beta.fool.com/traderinvestor70/2013/03/14/is-now-the-time-to-buy-these-5-overseas-energy-com/26764/?source=eogyholnk0000001

Let's fly to the neighboring Thailand, where Pan Orient Energy (TSXV: POE) primarily operates. Its Canada-based heavy oil project is still at its infancy.

Pan Orient produces 1500 bopd (100% oil) currently. The company is debt-free, holding $143 million cash as of Q3 2012. The market cap is $180 million, and the EV is as low as $37 million, resulting in one of the lowest valuations in the sector. There aren't many oil-weighted companies around that trade at $24,700/bopd (100% oil).

The company's weakness is its 2P Reserves, which were 1.1 MMboe in December 2012. Thus, Pan Orient trades at $33.6/boe of 2P reserves, which is a relatively high metric. However, for the determination of crude oil reserves, no reserves were assigned to the new pool discovery with the L53-DC1 appraisal well in Concession L53.

The high 2P reserves valuation is also offset by the low EV/CF ratio. Based on Q4 2012 production, the company generates about $40 million in cash flow annually, which translates into a very low 1x multiple for the EV/CF ratio.

If the ongoing exploration program in Thailand and Indonesia shows some success, the company will add significant reserves, further reducing risks in its acreage. We will know more about it by April 2013 when an update will be issued.
Safe Landing

Pan Orient Announces 2012 Year-End Thailand Reserves Update


CALGARY, ALBERTA, Feb 28, 2013 (Marketwire via COMTEX) -- Pan Orient Energy
Corp. (TSX VENTURE:POE) announced the results of its December 31, 2012
independent reserves evaluation for Thailand on-shore Concession L53/48 where
Pan Orient is the operator and has a 100% working interest. Please note that all
amounts are in Canadian dollars unless otherwise stated and BOPD refers to
barrels of oil per day. Company gross reserves reported represent Pan Orient's
working interest share of production and reserves before deduction of royalties.

The evaluation for the Thailand assets as at December 31, 2012 was conducted by
Sproule International Limited of Calgary ("Sproule") and was prepared in
accordance with Canadian Securities Administrators National Instrument 51-101 -
Standards of Disclosure for Oil and Gas Activities.

Thailand Reserves Summary:







-- Thailand Company gross proved plus probable crude oil reserves of 1.1

million barrels at December 31, 2012, with an associated net present

value (after tax), using forecast prices and costs discounted at 10% per

year of Cdn$42 million, or $0.73 per Pan Orient share based on the

current 56.8 million Pan Orient shares outstanding.

-- Company gross proved plus probable crude oil reserves at December 31,

2012 from conventional sandstone reservoirs were 0.6 million barrels for

the L53A field and 0.5 million barrels for the L53D field.

-- Company gross proved plus probable oil reserves of 1.1 million barrels

at December 31, 2012 reflect the following changes during 2012:

-- the sale June 15, 2012 of the Company's 60% working interests in

Thailand Concessions SW1, L44/43, & L33/43 for proceeds net of

income tax of $158 million, which had an estimated 18.0 million

barrels of proved plus probable oil reserves, primarily from

unconventional reservoirs

-- oil sales in 2012 of 0.5 million barrels of oil

-- discovery of the L53D oil field in Concession L53 with 0.7 million

barrels of oil

-- technical downward revision of 0.1 million barrels of oil for the

L53A oil field in Concession L53

-- Pan Orient's oil sales in 2012 were 0.5 million barrels, an average of

1,430 BOPD, with 1,029 BOPD in the fourth quarter of 2012. Average 2012

oil sales comprised 937 BOPD from Concession L53 and 493 BOPD associated

with the working interests in Concessions SW1, L44/43, & L33/43 sold

June 15, 2012. Oil sales for Concession L53 were 1,358 BOPD in the first

quarter of 2012, 520 in the second quarter of 2012, 842 in the third

quarter of 2012 and 1,029 in the fourth quarter of 2012.

-- For the determination of crude oil reserves at December 31, 2012, no

reserves were assigned to the new pool discovery with the L53-DC1

appraisal well in Concession L53 which started drilling January 7, 2013

and is currently being tested.



Summary of Thailand Crude Oil Reserves as of December 31, 2012, as provided

by Sproule

----------------------------------------------------------------------------

Marketable Reserves - Company Gross (thousands of barrels)

----------------------------------------------------------------------------

Proved 405

Probable 682

------------

Total Proved plus Probable 1,087

----------------------------------------------------------------------------



Summary of Thailand Crude Oil Proved plus Probable Reserves as of December

31, 2012, by Major Field as provided by Sproule - Company Gross (thousands

of barrels)

----------------------------------------------------------------------------

Gross Proved

Concession Major Field Gross Proved Gross Probable plus Probable

----------------------------------------------------------------------------

L53/48 L53A Field 164 413 577

L53D Field 241 269 510

---------------------------------------------

405 682 1,087

----------------------------------------------------------------------------

Reconciliation of Changes in Thailand Crude Oil Reserves as of December 31,

2012, as provided by Sproule - Company Gross

----------------------------------------------------------------------------

Gross Proved

(thousands of barrels) Gross Proved Gross Probable plus Probable

----------------------------------------------------------------------------

December 31, 2011 5,993 13,005 18,998

Extensions - - -

Improved Recovery - - -

Technical Revision 69 (141) (72)

Discoveries 438 269 707

Acquisitions - - -

Dispositions (Note 1) (5,572) (12,451) (18,023)

Economic Factors - - -

Production (523) - (523)

------------------------------------------------

December 31, 2012 405 682 1,087

----------------------------------------------------------------------------



Summary of Thailand Net Present Values as of December 31, 2012, as provided

by Sproule (Before Income Tax)

----------------------------------------------------------------------------

Present Value - Before Tax (Cdn$

million) Undiscounted 5% 10% 15%

----------------------------------------------------------------------------

Proved 25 24 24 23

Probable 50 47 44 41

------------------------------------------

Total Proved plus Probable 75 71 68 64

----------------------------------------------------------------------------

Summary of Thailand Net Present Values as of December 31, 2012, as provided

by Sproule (After Income Tax )

----------------------------------------------------------------------------

Present Value - After Tax (Cdn$

million) Undiscounted 5% 10% 15%

----------------------------------------------------------------------------

Proved 19 19 18 18

Probable 26 24 23 22

------------------------------------------

Total Proved plus Probable 45 43 42 40

------------------------------------------

Per Pan Orient share (Note 8) $ 0.79 $ 0.76 $ 0.73 $ 0.71

----------------------------------------------------------------------------

Notes:

1) Thailand reserves and values at December 31, 2012 shown represent Pan

Orient's 100% working interest for Concession L53/48.

Thailand reserves and values at December 31, 2011 shown represent Pan

Orient's 60% working interests for Concessions SW1, L44/43, & L33/43

and Pan Orient's 100% working interest for Concession L53/48. Pan

Orient's 60% working interests in Concessions SW1, L44/43, & L33/43

were sold June 15, 2012.

2) The tables shown have assessed reserves at forecast crude oil

reference prices & costs.

3) The US$ reference price for crude oil per barrel (US$ UK Brent per

barrel) is $106.42 for 2013, $101.65 for 2014, $97.56 for 2015,

$105.07 for 2016, $106.65 for 2017, $108.25 for 2018 and prices

increase at 1.5% per year thereafter.

4) Oil revenue for these reserves is based on approximately 92% of the

forecast crude oil Brent reference price for the L53A field and 88%

for the L53D field.

5) Tables shown assessed reserves with a foreign exchange rate of

US$1=CDN$1.001

6) The cost inflation rate starting in 2014 is 1.5% per year.

7) Estimated future undiscounted development costs, in nominal dollars,

at December 31, 2012 were Cdn$4.0 million for proved reserves and

Cdn$8.8 million for proved plus probable reserves.

8) Per share values were calculated based on 56,760,307 Pan Orient shares

currently outstanding.

9) Net present values before income tax are before deduction of the SRB

(Special Remuneratory Benefit tax) in Thailand.

10) Net present values after income tax are after deduction of the SRB

(Special Remuneratory Benefit tax) and income tax in Thailand.

11) Well abandonment and disconnect costs were included in this report. No

allowances for reclamation or salvage values were made.

12) The net present values disclosed may not represent fair market value.

13) The evaluation for the Thailand assets as at December 31, 2011 had

been conducted by Gaffney, Cline & Associates (Consultants) Pte. Ltd.

of Singapore. There were no disputes between Gaffney, Cline and

management of Pan Orient.

14) Totals may not add exactly due to rounding.





Pan Orient is a Calgary, Alberta based oil and gas exploration and production
company with operations currently located onshore Thailand, Indonesia and in
Western Canada.

This news release contains forward-looking information. Forward-looking
information is generally identifiable by the terminology used, such as "expect",
"believe", "estimate", "should", "anticipate" and "potential" or other similar
wording. Forward-looking information in this news release includes, but is not
limited to, references to: well drilling programs and drilling plans, estimates
of reserves and potentially recoverable resources, and information on future
production and project start-ups. By their very nature, the forward-looking
statements contained in this news release require Pan Orient and its management
to make assumptions that may not materialize or that may not be accurate. The
forward-looking information contained in this news release is subject to known
and unknown risks and uncertainties and other factors, which could cause actual
results, expectations, achievements or performance to differ materially,
including without limitation: imprecision of reserve estimates and estimates of
recoverable quantities of oil, changes in project schedules, operating and
reservoir performance, the effects of weather and climate change, the results of
exploration and development drilling and related activities, demand for oil and
gas, commercial negotiations, other technical and economic factors or revisions
and other factors, many of which are beyond the control of Pan Orient. Although
Pan Orient believes that the expectations reflected in its forward-looking
statements are reasonable, it can give no assurances that the expectations of
any forward-looking statements will prove to be correct.

FOR FURTHER INFORMATION PLEASE CONTACT: Pan Orient Energy Corp. Jeff Chisholm
President and CEO (403) 294-1770

Pan Orient Energy Corp. Bill Ostlund Vice President Finance and CFO (403)
294-1770

SOURCE: Pan Orient Energy Corp.

You're welcome.:)

Hegotgame, thanks for starting this board. I've been watching this one off & on for quite some time since Chen Lin was talking it up nearly two years ago.

Was waiting for a pullback from the recent run-up.

I may be buying shares over the next days after this dip due to the watery well news this a.m.

POE.V/POEFF Pan Orient Energy Corp.: Thailand L53-DC1 New Pool Discovery
Press Release: Pan Orient Energy Corp.

CALGARY, ALBERTA--(Marketwire - Jan. 23, 2013) -
Concession L53 (Pan Orient Operator and 100% Working Interest)
Pan Orient Energy Corp. ("Pan Orient" or the "Corporation") (TSX VENTURE:POE) is pleased to announce that the L53-DC1 appraisal well located in the L53 D East oil field area of Concession L53, has encountered approximately 55 meters of net oil pay (true vertical thickness) in six separate sandstone reservoir intervals based on the interpretation of a full suite of open hole wire line logs, mud log data recorded while drilling and offsetting well data. The L53-DC1 well is the first of a planned back-to-back five well program on Concession L53.
The L53-DC1 well was drilled directionally to the NE of the L53-DC well pad to 1,661 meters measured depth (934 meters true vertical depth ("TVD")), within a fault compartment that had not been penetrated by any earlier drilled wells. Oil pay was encountered in the A4, A3, A2, A1 sandstone zones and two shallower sandstone intervals above the A1 zone. All oil bearing sands appear to be oil charged throughout, with no evidence of any oil water contacts within any given sand. This is the first good quality oil pay of significant thickness encountered in the A3, A2, A1 and shallower sandstone zones by any well drilled to date, and highlights the potential of these sands as primary reservoir targets in adjacent, currently undrilled, fault compartments.
The L53-DC1 well is currently being cased and will be perforated over the A4 sandstone interval and put on production in approximately three to four days.
Immediately upon the completion of perforating operations at the L53-DC1 well, the drilling rig will be skidded to the adjacent well cellar and drill a twin well (L53-DC2) to the L53-DC1 well which is planned to encounter the A3, A2 and A1 sands in a structurally higher position than was encountered at L53-DC1. The L53-DC2 well will be drilled to a true vertical depth of approximately 1,300 meters, approximately 376 meters deeper than the L53-DC1 well, with the primary objective of testing deeper sandstone targets also located within this untested fault compartment. The drilling of the L53-DC2 well represents a change in the drilling program as initially conceived prior to the L53-DC1 results.
Pan Orient CEO Jeff Chisholm states: "The L53-DC1 well results are an excellent start to the 2013 L53 drilling campaign and highlights the potentially significant upside within shallow sands that were not earlier perceived as primary objectives."
Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations located onshore Thailand, Indonesia and in Western Canada.
Contact:
Pan Orient Energy Corp.
Jeff Chisholm
President and CEO

Pan Orient Energy Corp.
Bill Ostlund
Vice President Finance and CFO
(403) 294-1770