Pan Orient has completed 90-days production testing on the new-field wildcat L53 DD1 in the L53/48 concession, onshore Chao Phraya Basin, on 18 February 2019. 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. L53 DD1 has been temporarily shut-in until Production License is granted.    The well was reported to have flowed at an average rate of 645b/d of oil within the âDDâ sand, from 21 November to 9 December 2018, prior to shut-in for a workover. On 12 December 2018, production commenced from the âCCâ sand using a beam pump with average oil production of 504 b/d. The oil production from âCCâ sand increased to 756 b/d using an electrical submersible pump from 16 January to 10 February 2019.  Located 5 km south of the U Thong oilfield, the deviated wildcat was drilled to a total depth of 1,373 m (1,323 m TVD) on 22 October 2018. The well was immediately appraised by L53 DD2 well, which has also temporarily shut-in after a completion of 90-day production test. The measured density of the oil in L53 DD1 is approximately 24 degrees API gravity with Basic Sediment and Water (BS&W) of 0.4%.    The DD sand is the deepest of three oil bearing sands and represents 8 m of the 26 m of total interpreted net oil pay encountered in the well. The well encountered a combined 26 m of net oil pay from three zones across 165 m interval (960-1,125 m TVD), interpreted from wireline logs. The other two reservoirs, âBB sandâ and âCC sandâ share the same oil-water contact with the L53-DD2, which is 24 â 29 m structural high than those in L53-DD1. The reservoirs quality is excellent with high permeability which was confirmed by pressure data and oil samplings from each of the zones.    The completion of L53 DD1 has fulfilled the USD 600,000 minimum annual expenditure that is required to retain the 214 sq km of the L53/48âs âExploration Reserved Areaâ. The previous exploratory well, L53-AC-C1 was abandoned on 31 December 2017, with oil shows. A fluid sampling determined the oil shows area to be dominantly water-bearing reservoir.    The L53/48 concession produced at approximately 455 b/d of oil in October 2018, as compared to 505 b/d of oil in late 2017. The concession holds a 2P crude oil reserves of 546,500 barrels from the Lower Miocene sandstone reservoir, excluding the exploration area (As of 31 December 2017).    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 L53/48 block lies onshore in the Kamphaeng Saen Sub-basin of the Chao Phraya Basin, around 50km WNW of Bangkok. The area is covered by at least 580 sq km of 3D seismic data which were acquired since 2007. Seven minor oil discoveries were encountered from 2009 to 2013 with estimated total recoverable reserves of approximately 25 MMbbl. As of December 2018, a total of three fields are producing (L53-A, L53G, L53-D East), two are developing (L53-B and L53-DD) and another two fields are appraising (L53-D and L53-D C-EXT).    The oils were trapped in the Lower to Middle Miocene structural play sealed by Middle Miocene Series mudstone. The reservoirs were deposited in lacustrine environment.    The block also covers an area that was previously partially covered by BPâs B04/27 and Britoilâs Block BT concessions. It encompasses and excludes the Kampheang Saen field (previously called Neung), which was discovered by BP in February 1987.     The original 3,997 sq km L53/48 block was awarded to Pan Orient Energy on 8 January 2007 as the operator and sole interest holder, under the 19th Licensing Round. The concession agreement allows Pan Orient to explore for hydrocarbons over a period of six years with a minimum three years first phase commitment of approximately US$ 2.1 million, which includes 3D seismic acquisition and two exploratory wells.    On 2 February 2015, Pan Orient Energy Corp closed the sale of 49.99% of its own equity interest in Pan Orient (Siam) Ltd, which is in turn operator of the concession, to Sea Oil Public Company. With all conditions being met, Sea Oil transferred a consideration of USD 38.5 million to Pan Orient. Pan Orient (Siam) Ltd remained operator of the block with 100% interest, as an equally controlled subsidiary of Pan Orient Energy Corp and Sea Oil Public Company.    In October 2016, the operator completed a five wells workover program which has increased production from 192 bo/d in August 2016 to 303 bo/d. The December 2016 production from L53-G1 was substantially reduced to approximately 100 bo/d, as a result of a replacement of downhole pump. The focus for the 2017 was to maximize production from the existing wells.     In late 2016 and 2017, the operator attempted to find several upside potentials within the Miocene sandstone reservoirs by drilling L53-ANE-A1 and L53 AC C1 in the Reserve Area A. The wells failed to encounter hydrocarbons within the target intervals, which were determined to have excellent quality of sandstones.
L53 DD4 (Pan Orient 100%) in L53 DD field area (onshore), 15,6m net oil pay in the BB/CC sand, as well as the AA2 sand (new pool). A 90-day test is planned.