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Option Grant to Director
May 22, 2009 07:05AM
May 21, 2009
Pan Orient Energy Corp.: Option Grant to Director
CALGARY, ALBERTA--(Marketwire - May 21, 2009) - Pan Orient Energy Corp. ("Pan Orient") (TSX VENTURE:POE) announced today that it granted options to Paul D. Wright to purchase 100,000 common shares under Pan Orient's stock option plan. Mr. Wright is a Pan Orient director and the Chair of its audit committee. Each option has an exercise price of $5.20 (being the May 21, 2009 closing price of the shares on the TSX Venture Exchange), vests as to 25% on the grant date and 25% on each of the first, second and third anniversaries of the grant date and expires on May 21, 2014.
Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently located onshore Thailand, Indonesia and in Western Canada.