"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.
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