JSX Reports Widespread Interest in Thai Block
JSX Energy said that its 1-million-acre petroleum Block L17 has attracted tremendous attention from well-known oil companies since it was officially awarded on December 8th 2006. JSX management have met with and shared vital information with companies from all over the world and several interesting proposals have been submitted to the Company for consideration.
"We have reviewed various proposals to jointly explore & develop Block L17, each with its own complementary strengths; however our sights are set well beyond this one block," said JSX President Luc Desmarais. "Management believes more shareholder value can be created by building a solid long-term relationship with the right strategic partner and we expect to announce our final decision within the coming weeks."
The Mae Sot basin contains massive amounts of rich oil shale, an excellent source material for conventional oil & gas. Exploration & development of the block will require an ongoing effort over the next eight years, while production licenses can last as long as 30 years depending on reserves in the basin.
- Interra Inks Deal for a 50% Stake in Thai Concessions (Nov 07)
- Thai Government Approved Interra's Farm-in/out Agreement with JSX (Oct 23)
- JSX Encouraged by Mae Sot Seismic Findings (May 08)