CALGARY - Pan Orient Energy Corp. ('Pan Orient' or the 'Company') (TSXV: POE) reports 2022 first quarter consolidated financial and operating results.

Please note that all amounts are in Canadian dollars unless otherwise stated, BOPD refers to barrels of oil per day and BOPD for Thailand operations represents volumes net to Pan Orient's 50.01% equity interest in the Thailand Joint Venture.

The Company is today filing its unaudited consolidated financial statements as at and for the three months ended March 31, 2022 and related management's discussion and analysis with Canadian securities regulatory authorities. Copies of these documents may be obtained online at www.sedar.com or the Company's website, www.panorient.ca.

Commenting today on Pan Orient's 2022 first quarter results, President and CEO Jeff Chisholm stated: 'Pan Orient is currently engaged in the advanced stages of a due diligence process related to the sale of the Company's Thailand interests. We anticipate being in a position to make an announcement regarding this matter by the end of the second quarter 2022. Oil sales have been averaging approximately 1,250 BOPD (net to Pan Orient's 50.01%) over the first nine days in May and approximately four additional workovers are anticipated to be completed over the next 30 days, with an additional two well appraisal program planned to commence in early August.'

Contact:

Jeff Chisholm

Email: jeff@panorient.ca

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