Pan Orient Energy Corp.: 2014 Year End Financial & Operating Results
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 04/09/15 -- Pan Orient Energy Corp. ("Pan Orient") (TSX VENTURE: POE) reports 2014 year-end and fourth quarter consolidated financial and operating results. Please note that all amounts are in Canadian dollars unless otherwise stated and BOPD refers to barrels of oil per day net to Pan Orient unless otherwise stated.
The Corporation is today filing its audited consolidated financial statements as at and for the year ended December 31, 2014 and related management's discussion and analysis with Canadian securities regulatory authorities. Copies of these documents may be obtained online at or the Corporation's website, .
Commenting today on Pan Orient's 2014 results, President and CEO Jeff Chisholm stated: "Because of a series of initiatives undertaken by management in 2014 to de-risk the Company's portfolio and reduce future capital commitments, including the sale of a 50% interest in Thailand Concession L53, the Company is currently in the enviable position of being cash and opportunity rich."
HIGHLIGHTS
2014 RESULTS
OUTLOOK
Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently 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: renewal, extension or termination of oil concessions and production sharing contracts, well drilling programs and drilling plans, estimates of reserves and potentially recoverable resources, information on future production and project start-ups, and negotiation, agreement, closing and financing and other terms of farmout and other transactions. 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: imprecision of reserve estimates and estimates of recoverable quantities of oil, changes in project schedules, operating and reservoir performance, the effects of weather and climate change, the results of exploration and development drilling and related activities, demand for oil and gas, commercial negotiations, 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.
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)
Email:
Bill Ostlund, Vice President Finance and CFO
Telephone: (403) 294-1770, Extension 233
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Unternehmensinformation / Kurzprofil:
Datum: 09.04.2015 - 12:30 Uhr
Sprache: Deutsch
News-ID 384558
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Oil & Gas
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