We were standing on the beach at Pedasi (on the Azuero Penninsula) waiting for our boatman to bring the boat from its mooring to the beach. We was a round light in the sky to the east about 5-10 degrees above the horizon. It could be seen very clearly. it looked like a spotlight in the sky. As the clouds went by it went behind the cloud and then would appear after the cloud passed (from left to right). Then we saw it move from right to left and back again several times. All this occured before sunrise. Just before the sun began to come up it disappeared.