With a 40% ownership, Texhoma Energy is focused on Block B7/38 located in the Gulf of Thailand in average water depths of 20 meters. The concession consists of approximately 700,000 acres and has been surveyed with 2D and 3D seismic during 1992 to 1997. Multiple oil prospects and leads have been identified within the block. A comprehensive database has been acquired with this permit with an estimated replacement cost of approximately US $15 million.
Several major international Oil and Gas companies currently produce and many more are exploring the Gulf of Thailand for oil and gas close to Texhoma Energy's Block B7/38. To date the Company, with its partners has expended approximately US $7.6 million completing the first stage of exploration of the Block further increasing its value.
Texhoma Energy is currently reviewing its next stage of exploration with the DMF and will report development plans and deployment timing when defined by the discussions.
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