2009-08-17-2008-07-01-2008-07-01

Purchased operated 69% WI in 4,440-sq.-km Citarum PSC onshore West Java.

Pan Orient Energy Corp., Calgary, (Toronto Venture: POE) has acquired an operated 69% working interest in the 4,440-square-kilometer Citarum production sharing contract onshore West Java, Indonesia, from Ranhill Berhad for US $7 million in cash and US$4 million in stock for a total deal value of US$11 million. Ranhill will retain an 11% carried working interest through to first commercial production. This transaction follows the recent acquisition of a 90% working interest in both the Batu Gajah PSC, southern Sumatra, and the Pemai Taluk joint study agreement