CALGARY, ALBERTA–(Marketwired – Dec. 2, 2013) –
Pan Orient Energy Corp. (“Pan Orient” or the “Corporation”) (TSX VENTURE:POE) announced today that it granted options to purchase 1,186,000 common shares under Pan Orient’s stock option plan, of which 1,150,000 were granted to directors and officers. Each option has an exercise price of $1.92 (being the November 29, 2013 closing price of the shares on the TSX Venture Exchange), vests as to 1/3 on the grant date and 1/3 on each of the first and second anniversaries of the grant date and expires on December 1, 2018.
With regard to recent events in Thailand, Pan Orient’s operations have not been impacted in any meaningful way, nor is it anticipated that they will be in the foreseeable future.
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 press release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as “plan”, “intend”, “expect”, “believe”, “estimate”, “should”, “anticipate” and “potential” or other similar wording. Forward-looking information in this press release includes, but is not limited to the vesting and expiry dates of stock options. By its very nature, the forward-looking information contained in this press release requires Pan Orient and its management to make assumptions that may not materialize or that may not be accurate. In addition, the forward-looking information contained in this press release is subject to known and unknown risks and uncertainties and other factors, some of which are beyond the control of Pan Orient, which could cause actual results, expectations, achievements or performance to differ materially. Although Pan Orient believes that the expectations reflected in its forward-looking information are reasonable, it can give no assurances that those expectations will prove to be correct. Pan Orient undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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.
President and CEO (located in Bangkok, Thailand)
Pan Orient Energy Corp.
Vice President Finance and CFO