Pan Orient Energy Corp.
Pan Orient Energy Corp.
Sector: Energy
Description
Pan Orient Energy Corp. is a junior natural resource company that operates in the oil and gas industry. Pan Orient Energy was formed on August 26, 1997, according to the Canadian laws of Alberta Province. Pan Orient Energy Corp. is a publicly listed energy corporation on the Toronto Venture Stock Exchange (TSXV), with its shares trading under the ticker POE.
The Calgary, Alberta-based oil and gas company has an ownership interest in key natural resource assets located in Thailand and the northern part of Alberta. The oil and gas resource portfolio of Pan Orient Energy Corp. is categorized into two divisions based on geographical operations:
Thailand – Concession L53: Pan Orient Energy Corp. holds a 50.01 per cent ownership stake in Pan Orient Energy (Siam) Ltd., an oil and gas production and exploration corporation that owns a 100 per cent working stake in Concession L53. The Concession L53 is a partly developed oil exploration and production project encompassing an area of 27.32 square kilometers situated nearly 60 kilometers from Bangkok, Thailand.
Canada – Pan Orient Energy Corp. owns a 71.8 ownership stake in Andora, a privately owned oil corporation with ownership interests in 39 sections (including 22.7 net sections) of the Sawn Lake Project situated at the central part of the Alberta Peace River Oil Sands field. Andora is working on steam assisted gravity drainage technology to develop the bitumen resources onsite. The Sawn Lake oil project is at a pre-commercial phase.
Pan Orient Energy Corp. used to own a 49 per cent stake (non-operating) in the East Jabung Production Sharing Contract situated in Sumatra, Indonesia. However, the East Jabung PSC expired in January 2020. Consequently, the company closed its Jakarta Office on March 31, 2020, and is refraining from its operations in Indonesia.
Pan Orient Energy Corp. is an oil producer and supplier and thus, earns revenue significantly from the distribution and sale of produced oil. Pan Orient Energy Corp. is working on exploration and drilling operations to identify and evaluate the oil and gas resource potential to increase the production capabilities onshore for the development of its projects.
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