Pan Orient Energy Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company's funds flow from operations was CAD 18.7 million compared to CAD 12.4 million for the first quarter of 2011. Funds flow from operations per share was CAD 0.33 for the first quarter of 2012. Net income attributable to common shareholders was CAD 8.1 million, or CAD 0.14 per share compared with CAD 3.9 million, or CAD 0.08 per share, for the first quarter of 2011. Total capital expenditures were CAD 21.5 million. For the quarter, the company's revenue was CAD 24,410,000 against CAD 17,486,000 for the same period a year ago. Cash provided by operating activities was CAD 16,139,000 against CAD 12,286,000 for the same period a year ago. The company provided the production guidance for the year 2012. for 2012, the company will be focusing on a large acreage portfolio in western onshore Indonesia throughout the remainder of 2012. The current three well drilling program in the Citarum PSC has been challenging and encouraging; attributes not entirely unexpected in a frontier exploration foldbelt. Approximately late in the third quarter of 2012, exploration will focus on the Batu Gajah PSC onshore Sumatra with the drilling of 2 firm exploration wells and 2 contingent exploration wells. One of the firm wells will be an appraisal of the NTO-1 gas discovery that will be drilled to confirm the overall size of the gas accumulation in the Lower Talang Akar sandstones and test the possibility of an oil or gas accumulation in the overlying Upper Talang Akar sandstones. The Shinta-1 exploration well will be targeting potential stacked sandstone pay at a location in close proximity to, and surrounded by, some large fields operated by another operator. Both of these well locations have been selected on the basis of 3D seismic data. In the second half of 2012 the company also be acquiring 2D seismic data in the East Jabung and South CPP PSC's, setting the stage for a three well exploration program on these PSC's in 2013.