Pan Orient Energy Corp.: Sawn Lake Alberta SAGD Heavy Oil Operations Update
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 02/23/16 -- Pan Orient Energy Corp. (TSX VENTURE: POE), on behalf of its 71.8% owned subsidiary Andora Energy Corporation ("Andora"), is providing an update for Andora''s Steam Assisted Gravity Drainage ("SAGD") oil sands project at Sawn Lake Alberta, Canada.
Highlights
Andora''s SAGD Oil Sands Project at Sawn Lake
Sawn Lake SAGD Demonstration Project
Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations 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: the success and stability of bitumen production rates and associated steam oil ratio and the commencement and duration of suspension of the Sawn Lake Demonstration Project, potential reactivation of the project and the factors on which any reactivation is dependent and forward looking information contained in the contingent resources evaluation prepared by Sproule . 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: changes in project schedules, well test, operating and reservoir performance, the effects of weather and climate change, 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. Readers are cautioned that well test results, when announced, will not necessarily be indicative of long-term performance or of ultimate recovery.
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 (located in Bangkok, Thailand)
Pan Orient Energy Corp.
Bill Ostlund
Vice President Finance and CFO
(403) 294-1770
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Datum: 23.02.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 1417020
Anzahl Zeichen: 3855
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CALGARY, ALBERTA
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Oil & Gas
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