April 7, 2011 / 1:26 PM / 7 years ago

UPDATE 1-Pan Orient proved, probable reserves in Thailand fall

* Q4 oil sales in Thailand up 20 pct by volume

* 2010 proved, probable reserves down 13 pct (Adds details)

April 7 (Reuters) - Pan Orient Energy Corp’s fourth-quarter sales in Thailand rose 20 percent by volume, but its 2010 proved and probable reserves in the country fell.

Oil sales in Thailand for October-December quarter was 4,056 barrels per day (bpd), compared with 3,370 bpd last year.

The company, which has oil and gas assets in Thailand, Indonesia and in northern Alberta, said proved and probable reserves fell 13 percent to 31.9 million barrels at Dec 31, 2010 in Thailand.

The net present value of proved and probable reserves after tax in Thailand rose 11 percent to C$509 million, the company said in a statement.

Shares of the Calgary, Alberta-based company closed at C$7.10 on Wednesday on the Toronto Venture Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Jarshad Kakkrakandy)

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