2012-02-13 17:36:10 -

CALGARY, ALBERTA -- (Marketwire) -- 02/13/12 -- Pan Orient Energy Corp. (TSX VENTURE:POE)


Citarum PSC (Pan Orient Operator and 77% Working Interest) Cataka-1 Exploration Well


The decision has been made to junk and abandon the Cataka-1 exploration well at a depth of approximately 400 meters TVD, 1,500 meters above the primary reservoir objective due to severe drilling difficulties. The primary reservoir objective of the well, at approximately 1,900 meters depth, had not been penetrated.



The rig is currently mobilising to the Jatayu-1 location and will commence the drilling of this well in approximately three to four weeks with another approximately 4 weeks to reach the primary reservoir objective.


It is planned that upon the completion of the Jatayu-1 well, drilling will commence on the re-drill of the Cataka prospect (Cataka-1A) incorporating a redesigned well plan incorporating the information gathered from the original well.


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.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Contacts:

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