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October 2013 Page 01 Cautionary Statement Page 02 This presentation - - PowerPoint PPT Presentation

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October 2013 Page 01 Cautionary Statement Page 02 This presentation contains forward looking statements which involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies including those risk

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October 2013

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Cautionary Statement

This presentation contains forward looking statements which involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies including those risk factors associated with the oil and gas industry, many of which are outside the control of and may be unknown to Pan Orient. No representation, warranty or assurance, express or implied, is given or made in relation to any forward looking statement. In particular, no representation, warranty or assumption, express or implied, is given in relation to any underlying assumption or that any forward looking statement will be achieved. Actual and future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements were based. Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements, and should rely on their own independent enquiries, investigations and advice regarding information contained in this

  • presentation. Any reliance by a reader on the information contained in this presentation is wholly at the readers own

risk. Readers are cautioned that well test results are not necessarily indicative of long-term performance or of ultimate recovery. Pan Orient and its related bodies corporate and affiliates and their respective directors, partners, employees, agents and advisors disclaim any liability for any direct, indirect or consequential loss or damages suffered by a person or persons as a result of relying on any statement in, or omission from, this presentation. Subject to any continuing

  • bligations under applicable law or any relevant listing rules of the TSX-V, Pan Orient disclaims any obligation or

undertaking to disseminate any updates or revisions to any forward looking statements in this presentation to reflect any change in expectations in relation to any forward looking statements or any such change in events, conditions or circumstances on which any such statements were based.

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Capital Structure Shares Outstanding 56.7 million Shares Fully Diluted 62.0 million Working Capital (1 Jul 2013) $54 million CDN Debt nil Market Capitalization $117million CDN Current Share Price $2.07

Corporate Snapshot

3 Oil Reserves-Thailand – Barrels Dec 31/12 (NPV@10% after tax) Proven 0.40 million ($18 million) Proven + Probable 1.1million ($42 million) Production (September) 1,014 BOPD + 151 bopd shut-in Contingent Resources Heavy Oil – Canada – Barrels Dec 31/12 1C 140 million 2C 154 million Production Planned for early 2014 from pilot project Share price performance over last 12 months

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Introduction

  • History of value creation onshore Thailand:

– Concessions L44 & L33 purchased October 2007 for $7.5 million and sold June 2012 for $172 million – September 2012 Return of capital to POE shareholders of $0.75/share

  • Concession L53 & L45 - Success with drill bit:

– Concession L53 signed in 2007 for a 3 year work program commitment of $1.7 million – 1 developed oil discovery at L53A and 2 undeveloped that were made in 2013 at L53D East (shallow) & L53-G – September production of ~1,014 BOPD with an additional 150 bopd shut-in – Significant remaining exploration upside

  • Large, high impact, high quality Indonesia

exploration portfolio

  • End Q2/13 working capital & deposits of $54

million

L53 East Jabung Batu Gajah South CPP Exploration Exploration & Production L45

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SE Asian Assets

L53: 100% POE Operated 1,014 BOPD Batu Gajah PSC: 77% POE Operated Status: 400 km2 of 3D seismic just completed Currently seeking a 40% partner East Jabung PSC: 100% POE Operated Status: 2D seismic underway, currently seeking a 50% partner South CPP PSC: 77% POE Operated Status: Relinquished pending Citarum PSC: 97% POE Operated Status: Currently seeking a 40% partner

Exploration Exploration & Production

2013 Remaining Work Program Thailand

  • 4 workovers ($2MM)

Indonesia

  • 2D seismic East Jabung ($5MM)

Canada

  • SAGD Pilot ($2MM)

L45: POE Farmed-in to earn up to 60% with seismic program and two wells

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L53 Thailand

  • 3 fields discovered
  • L45 concession farm-in 2012
  • 1MM bbls 2P reserves December

31, 2012 in L53

  • 3 new pool oil discoveries at L53-D

East (shallow) & 1 new oil field discovery at L53-G since the Dec 31, 2012 reserves assessment

  • 260 square kms of new 3D seismic

finished acquisition June 2013

  • 5 new exploration location EIA’S

approved on September 27/13

New 3D Old 3D

Prospects

L53-A Field L53-G Field L53-D East Field

L53 L45

Oil Kitchen A Oil Kitchen B

Mature Source Kitchen

A North Prospect A Central Prospect

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L53 Block Production chart

500 1000 1500 2000 2500 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 BOPD Month

Crude Oil Production Chart Field Plot 2009 Onwards

All Wells

Reserves as estimated by Sproule at year end 2012. Excludes Discoveries made at L53-G and L53-D East in 2013 that will be assessed at Year end 2013

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2013 Thailand Cash Flow Metrics

500 BOPD 1,000 BOPD 1,500 BOPD 2,000 BOPD 2,500 BOPD US$70 8 17 27 37 44 US$80 9 20 32 40 47 US$90 11 24 35 43 51 US$100 12 27 38 47 55

  • 10

20 30 40 50 60 Pan Orient Estimated Annualized Concession L53 2013 Cash Flow (Cdn$ millions) Based on US$ Brent & Oil Sales per Day

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L53-D East Shallow

  • 4 fault compartments have been

proven oil bearing at the shallow sand level comprising approx 1.41 km2 in maximum areal extent with 10-40 meters of net oil pay

  • 4 fault compartments remain un

drilled comprising maximum structural closures of 1.28 km2

  • Heavy ~14 degree API oil at depth of

approximately 450-550 meters which creates certain operational challenges currently being addressed

0.44 km2 0.44km2 0.54 km2 0.28 km2 0.40 km2 0.16 km2 0.43 km2

Proven: 1.41 km2 Undrilled: 1.28km2

L53-DC3 L53-DCEXT L53-DC4ST1

A1 Sand Structure

L53-DC1

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A A’ A A’

A Central Prospect

  • Large ~15km2 in maximum areal extent, dominant regional high located

between the Kamphaeng Saen and Suphanburi source kitchens

  • Clearly imaged on the 3D acquired in 2013
  • Amplitude supported
  • 3 surface locations with 4 wells each covering the structural closure

received EIA (environmental) approval on September 27/13

  • Drilling planned for end 2013 depending on rig availability

Kamphaeng Saen Kitchen Suphanburi Kitchen

A Central

DHI’s DHI’s

40 km 5.4 km

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A North Prospect

PTTEP Pan Orient L53

A North Prospect

U Thong Field 4.5mm BBLS Cumulative production

DHI’s

A North Prospect

A’ A’ A A

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B A B A

A North 2.25km2 1.13km2 0.88 km2 DHI’s

A North Prospect

PTTEP Pan Orient L53

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Page 013 256 Bcf 750 Bcf CATAKA -1

Citarum PSC Gas Fields Oil Fields Prospects Leads Gas Pipeline Oil Pipeline 2D Seismic

LODAYA -1

CITARUM OPERATIONS

JATAYU -1

Citarum PSC West Java

  • Citarum PSC West Java (POE 97% & Operator)
  • Large resource potential
  • Currently seeking 40% WI partner
  • Strongest domestic gas market in Indonesia
  • Nearby infrastructure
  • 1 dry hole, 1 sub commercial gas discovery and 2 wells

targeting the largest structural closures failed to reach their

  • bjectives due to drilling difficulties
  • Drilling planned post farmout

Jakarta

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Batu Gajah PSC Gas Fields Oil Fields Gas Condensate Fields Prospects Pan Orient 3D Seismic 2013 Wells Drilled (POE)

East Jabung PSC POE 100% Akitara East Rafa Kemala Raka Takar Sogo Utara

  • Batu Gajah PSC South Sumatra (POE 77% &

Operator)

  • Large resource potential– 9 prospects
  • Expiry Jan 2017
  • Seeking 40% WI partner
  • 85 GOI/15 POE profit split on oil
  • Drilling planned post farmout

Batu Gajah PSC Sumatra

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Akitara Discovery Area

  • Ramba Energy the operator of the

Lemang PSC directly adjacent to the POE operated Batu Gajah PSC recently announced the third successful well in to the Akitara structural closure (Akitara-2)

  • While POE has no access to any

information regarding the three wells drilled by Ramba other than through their press releases, we do have the well coordinates provided through various scout organizations and 2D seismic data coverage over the area

  • Akitara-1 was drilled approximately 175

meters from the concession boundary and Selong-1 was drilled approximately 500 meters from the concession

  • boundary. The deviated Akitara-2 well

had a location at total depth approximately 3 km from the concession boundary

  • It appears that at any given likely

structural spill point, approx 15-20% of the structural closure on Ramba acreage exists on POE acreage including a large portion of the crest of the structural closure. Indonesian regulations state “shared” discoveries must be unitized

1.5 KM

Time Structure Upper Talang Akar

Interpreted Maximum 17.4 km2 Interpreted Most Likely 9.6 km2 Interpreted Minimum 5.1 km2 Interpreted Minimum 1.7 km2 Interpreted Minimum 2.5 km2 Interpreted Minimum 3.2 km2 Akitara-2 TD location Selong-1 Akitara-1

POE RAMBA PETROCHINA

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EAST JABUNG OPERATIONS

East Jabung PSC Gas Fields Oil Fields Gas Condensate Fields Prospects Leads

Anggun Prospect 2D Seismic Q4/13 Completion 2D Seismic Q4/13 Completion

  • Pan Orient 100% & Operator
  • Best fiscal terms in Western Indonesia 65%

GOI /35% Contractor profit split for oil (after tax & after cost recovery)

  • $7.5MM of work program commitments over 3

years (2 wells + seismic)

  • Directly adjacent to the POE (77%) operated

Batu Gajah PSC

  • 2D seismic underway, seeking a 50% partner

East Jabung PSC Sumatra

  • Pan Orient 100% & Operator
  • Best fiscal terms in Western Indonesia 65% GOI /35%

Contractor profit split for oil (after tax & after cost recovery)

  • Directly adjacent to the POE (77%) operated Batu

Gajah PSC

  • 2D seismic underway, seeking a 50% partner
  • Very large (>100 km2) exploration target at Anggun

prospect at multiple stratigraphic levels

  • Drilling planned post farmout

Anggun Prospect

Batu Gajah PSC Gas Fields Oil Fields Gas Condensate Fields Prospects Batu Gajah Batu Raja Limestone Closure Air Benakat Sandstone Closure East Jabung PSC

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Anggun Prospect

Batu Raja Target Ketaling Kitchen

A A’ A A’

Ketaling Kitchen Top Main Oil

Batu Raja Closure 110 km2 in areal extent

E Ketaling Field Air Benakat Sandstone targets

  • Large prospect with 105 km2 maximum closure at

the Batu Raja limestone reef level and 130 km2 maximum closure at the Air Benakat sandstone level

  • Directly adjacent to a proven, thick, mature source

kitchen

  • Dominant regional structural high in the basin

since Batu Raja depositional time making the Anggun structure the focal point for the accumulation of hydrocarbons

35 km

Air Benakat Closure 130 km2 in areal extent

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Sawn Lake, Alberta, Canada

  • 154 million barrels of 2C contingent resources

attributed to Pan Orient’s 71.8% ownership of Andora

  • Andora is fully funded for the pilot with $24MM

cash

  • Drilling of the SAG-D horizontal well pair to

commence early October, first oil is anticipated in the first quarter of 2014

  • Maurel & Prom recently purchased a 30% net

interest from Andora’s partner at a metric of approximately $0.75/recoverable 2C barrel

Millions of barrels of Heavy Oil High Best Low Sawn Lake 180.3 154.0 140.0 NPV (10%) Before Tax (MM) $476 $351 $308

Sawn Lake Contingent Resources at December 31, 2012 (Pan Orient’s 71.8%)

Red Earth

T79 R1 W5 R24 T98

Husky Baytex

5th Meridian

Sh ell Penn West

Sawn Lake

Koch

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Sawn Lake - Land

Sawn Lake North

  • 10% of 51 sections (non-operated)
  • 100% of 9 sections
  • 1.5MMbbls “Best Case” contingent

resources net to Andora Sawn Lake Central

  • 50% of 12 sections
  • Designated Operator
  • 138.7MMbbls “Best Case” contingent

resources net to Andora

  • Approved Commercial SAGD Site

Sawn Lake South

  • 100% of 16 sections
  • 74.1MMbbls “Best Case” contingent

resources net to Andora Pilot Location

Andora holds varying interests in 88 sections of

  • il sands leases. Pan Orient Energy Corp owns

72.1% of Andora. Contingent Resource estimates by Sproule at year end 2012

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Established Local Infrastructure

Rainbow Crude Oil Pipeline Keyera 9” Crude Oil Pipeline Nova 13” HP

  • Nat. Gas

Pipeline All Season Road

Existing Infrastructure!

All season roads Facility site Gas supply Water Source & Disposal options Oil sales terminals Local …Service Co’s …Contractors …Suppliers → Cost Control

55 km to Red Earth Creek

130 km to the town of Peace River

Sawn Lake Lands

Pilot Site

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Contacts

Pan Orient Energy Corp Suite 1505, 505 3rd St SW Calgary, Canada Telephone: +1 403 294-1770 Fax: +1 403 294-1780 www.panorient.ca