As announced on 18 March 2019, Pan Orient has completed the drilling of outpost well L53 DD3, within the L53 DD field in the L53/48 Reserve Area A, located onshore Chao Phraya Basin, as an oil well. The well encountered an interpreted combined 38.5 m true vertical thickness of net oil pay within five separate sandstone reservoirs. The well results have exceeded pre-drill expectations and encountered the thickest net oil pay within the L53 DD field.    Spudded on 3 March 2019, L53 DD3 was drilled back-to-back with a new pool wildcat, L53 DD4, using the âE-02â land rig. The structural high L53 DD3 was designed to effectively access the thick reservoirs in the DD/EE, BB/CC and AA sands which were penetrated earlier in L53 DD2 and L53 DD1 wells. The well was drilled to a total measured depth of 1,380 m (1,110 m TVD) to a bottom hole location approximately 600 m southwest of the surface location. The top of the primary target BB/CC sand was encountered 9.3 m higher than L53 DD2. Oil pay was also encountered in AA2 sand, which was observed in L53 DD4 well.  The previous exploration well, L53 DD4 encountered a total net oil pay of 15.6 m in the BB/C sand, as well as a new pool, AA2 sand. The CC sand was encountered 7.5 m structurally higher than in L53 DD1 with good reservoir quality and thickness. However, the shallower AA sands were poorly developed while the deeper DD/EE sands were water bearing. The well reached a total depth of 1,950 m (1,400 m TVD).    The operator is currently waiting for approval from Department of Mineral Fuel (DMF) to proceed with the commencement of a 90-days well test for L53 DD4 and L53 DD3 wells.    As of 31 January 2019, the concession holds remaining crude oil reserves of 2.7 MMbbl from the Lower Miocene sandstone reservoir.    The L53/48 concession is fully owned and operated by Pan Orient (Siam) Ltd, which is in turn controlled by Pan Orient Energy Corp (50.01%) and Sea Oil Public Company (49.99%). The exploration Area A and B will expire in January 2021, after which the production areas (A, B, D and G) will be retained.    Background Information    The L53 DD field was discovered in November 2018, by L53 DD1 wildcat. Oils were trapped in the Lower to Middle Miocene Series structural play sealed by Middle Miocene Series mudstone. The daily oil production for L53 DD1 is around 530 barrels, based on the reported cumulative production from 21 November 2018 to 10 February 2019. This discovery was immediately appraised by L53 DD2 well.    L53 DD2 was drilled to an optimized up-dip location, approximately 560 m southwest of the discovery well L53 DD1, originally targeting the deepest two of the three reservoirs encountered in the discovery well. The well flowed heavy oil at approximately 580 b/d through a 3.9 m true vertical thickness of perforations within the DD and EE sands.    Production test results confirms that the DD/E sands in L53 DD1 well and BB/C sands in L53 DD2 well are within the same oil pool. Both wells have also been shut-in after the completion of its production test in February 2019, until an approval is granted for L53 DD field Production License by the Department of Energy Fuel (DMF). The approval is anticipated to be granted in April/May 2019.
Pan Orient has completed the drilling of outpost well L53 DD3, within the L53 DD field in the L53/48 Reserve Area A, located onshore Chao Phraya Basin, as an oil well. The well encountered an interpreted combined 38.5 m true vertical thickness of net oil pay within five separate sandstone reservoirs.