Pan Orient sold its lesser quality volcanic assets ( L44 blocks ) in mid-2012 for $170 million.

Those were producing at about 1500 bpd at the time or about $115,000 per flowing barrel.


Current production for the L53 block is listed at 1500 bpd and todays well could very well increase that by another 1000 bpd or more.

5 more development wells are are being drilled consectively, the next one in a week or twos time.

These do not take long to drill.


Their schedule calls for the remaining wells to be drilled by late April.


Just in time perhaps for POE to sell the entire works for what could be double or more the $170 million recd in may of 2012.