Pan Orient Energy (TSE:CEC) has released an update.
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Pan Orient Energy has announced key developments in its Sawn Lake heavy oil project, including taking over full operatorship and ownership. The company is also exploring the divestment of its Sawn Lake interests, while awaiting news on the Thailand onshore bid round, which is expected before the year ends. Financially, Pan Orient is in a strong position with $4.4 million in working capital, no long-term debt, and shareholders’ equity of $9.1 million as of June 2024.
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