Agreement for Sale of 50% Equity Interest in Pan Orient Subsidiary Pan Orient Energy (Siam) Ltd.

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Nov 06 2014	Agreement for Sale of 50% Equity Interest in Pan Orient Subsidiary Pan Orient Energy (Siam) Ltd.
CALGARY, ALBERTA--(Marketwired - Nov. 5, 2014) - Pan Orient Energy Corp. ("Pan Orient" or the "Company") (TSX VENTURE:POE) is pleased to announce that it has entered into an agreement for the sale of a 50% equity interest in subsidiary Pan Orient Energy (Siam) Ltd. to a wholly owned subsidiary of Sea Oil Public Company Limited ("Sea Oil") of Bangkok, Thailand, for a cash price of USD $42.5 million (CDN $48.3 million), including a working capital adjustment of USD $2.4 million (CDN $2.7 million). Pan Orient Energy (Siam) Ltd. holds Pan Orient's 100% interest in Concession L53/48 in Thailand and will remain as the operator.


Source:http://www.marketwired.com/mw/release.do?id=1964760&sourceType=3

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