In Nov/12, Pan Orient acquired 60 % wi in a 1990 sq km concession called L45/50.
POE will be the operator and can earn its interest by acquiring 80km of 3D seismics, which is planned for this quarter, followed by the drilling of two exploration wells.
This is another example of POE always having new and highly prospective properties on hand that can replace those intended to be sold ( such as L53 replacing L44 )
Concession L45/50 is directly aedjacent to and east of Pan Orient's operated 100-per-cent-working-interest concession L53/48.
Its in the Suphan Buri basin which extends south into the northern portion of both of these concessions from an area of proven production operated by PTTEP (the Thailand national oil company).
Both L53/48 and L45/50 have very limited old vintage 2-D seismic data covering this northern area, and a combined program for concessions L53 and L45 of 180 square kilometres of 3-D seismic acquisition is planned to commence late in the first quarter of 2013. There will be great synergy between the operations on the two concessions.
Once again, we can see the footprint for the eventual sale of L53.