PAN ORIENT ANNOUNCES $40 MILLION BOUGHT DEAL PRIVATE PLACEMENT

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[{"type":"text","content":"\n\n\n\n Feb. 14, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR \nDISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, Feb. 14 /CNW/ - Pan Orient Energy Corp. (POE - TSXV), ("Pan Orient" or "the Company"), is pleased to announce that it has\n entered into an agreement with Raymond James Ltd. and Macquarie Capital\n Markets Canada Ltd., acting as co-lead underwriters on behalf of a\n syndicate of underwriters (the "Underwriters"), to purchase 6,106,880\n common shares of the Company (the "Common Shares") at a price of $6.55\n per Common Share for gross proceeds of $40,000,064 on a bought deal\n private placement basis (the "Offering").\n\n\nThe Company has also granted the Underwriters an option (the\n "Underwriters' Option") to increase the size of the Offering by up to\n an additional 610,688 Common Shares, such option being exercisable at\n any time up to 48 hours prior to the closing of the Offering. If the\n Underwriters' Option is exercised in full, the aggregate gross proceeds\n raised will be $44,000,070.\n\n\nThe net proceeds from the Offering will be used to fund the exploration\n and development of the Company's petroleum assets in Thailand and\n Indonesia, general business development and working capital purposes.\n\n\nClosing of the Offering is anticipated to occur on or about March 8,\n 2011 (the "Closing Date") and is subject to the ...

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