Trans-Orient Receives Independent Technical Assessment on New Zealand Holdings



    
    Sproule estimates undiscovered resource potential at 1.7 billion barrels
in
    place
    

    VANCOUVER, British Columbia, Nov. 1 /CNW/ -- Australasian oil and gas
explorer Trans-Orient Petroleum Ltd. (OTC Bulletin Board:   TOPLF) announced
today it has filed an independent technical assessment report by Calgary-based
evaluators Sproule International Limited with the British Columbia Securities
Commission.
    The report, "Technical Assessment of the Undiscovered Hydrocarbon
Resource Potential of PEP 38348 and 38349 Onshore East Basin New Zealand" was
completed in accordance with National Instrument 51-101 Standards of
Disclosure for Oil and Gas Activities.
    David Bennett, Executive Chairman of Trans-Orient, commented, "We are
very pleased with this detailed technical report, which independently
acknowledges the significant undiscovered resource potential within our East
Coast Basin exploration areas. Our prospect inventory includes a number of
play styles, all at relatively shallow depths; and having control over such a
large prospective area provides a multitude of opportunities."
    The Sproule report highlights the conventional exploration potential of
the oil and gas prospects and leads located within the 2.163 million-acre
area, which is located onshore on the East Coast of New Zealand's North
Island. Numerous structural traps are identified, and potential reservoirs
include Miocene shelfal and turbidite fan sandstones with porosities of 20% or
more and very porous shallow-marine Pliocene limestones. The mid-case estimate
of in-place undiscovered resource potential has been estimated by Sproule to
be 1.7 billion barrels of oil equivalent, on the basis of currently defined
prospects and leads.
    Separately, the report also recognizes that potential may exist in
Trans-Orient's unconventional Waipawa-Whangai fractured shale formations,
which share similarities to successful fractured shale projects currently
being developed in the United States. These shales have been geochemically
typed as the sources of the numerous oil and gas seeps within Trans-Orient's
acreage.
    Dr. Bennett added, "Trans-Orient's solid financial position and 100%
interest in the East Coast venture allows for full control over the pace of
exploration activity. Moving forward, our strategy is to drill a number of
both the conventional targets and the targets within the Waipawa-Whangai
fractured shale play. The latter may require the drilling of a number of
boreholes to identify the most favorable drilling, completion and fracturing
plans to optimize production from potential 'sweet spots' of the fracturing
system."
    Copies of the Sproule report can be accessed electronically through
Trans- Orient's website at http://www.transorient.com. The report has also
been filed with the British Columbia Securities Commission on the SEDAR
website at http://www.sedar.com

    
    Contact:
    Dan Brown +1.604.682.6496
    dbrown@iremco.com
    http://www.transorient.com
    
    The term "barrels of oil equivalent" or "boe" may be misleading,
particularly if used in isolation. A boe conversion ratio of six thousand
cubic feet (6 mcf) to one barrel (1 bbl) is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead.
    The term "undiscovered resources" refers to those quantities of oil and
gas estimated, on a given date, to be contained in accumulations not yet
discovered. There is no certainty that any portion of the undiscovered
resources will be discovered or that, if discovered, it will be economically
viable or technically feasible to produce.
    
    Forward-Looking Statements:
    
    This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of applicable legislation.
Other than statements of historical fact, all statements in this release
addressing future operations, undiscovered hydrocarbon resource potential,
exploration, potential reservoirs, prospects, leads and other contingencies
are forward-looking statements. Although management believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance, and
actual results may differ materially from those in the forward-looking
statements due to factors such as market prices, exploration successes,
continued availability of capital and financing, and general economic, market,
political or business conditions. Please see our public filings at
http://www.sedar.com for further information.




For further information:

For further information: Dan Brown, +1-604-682-6496, dbrown@iremco.com, 
for Trans-Orient Petroleum Ltd. Web Site: http://www.transorient.com

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