JSX Strikes Deal with Strategic Operating Partner
JSX Energy has signed a binding Letter of Intent with a farmin partner to jointly explore and develop the Mae Sot basin, located in JSX's Block L17 in Thailand. The identity of the partner and terms of the deal will be disclosed in the coming days upon signing of the definitive agreement being developed by lawyers representing both parties. It was confirmed however, that JSX will retain full use of its $25,000,000 "tax pool" during the first 10 years of production.
JSX's new operating partner on Block L17 is an experienced energy company with a strong balance sheet, excellent technical staff and several producing oilfields in Southeast Asia. Joint operations are expected to begin within a matter of weeks, starting with a thorough review of all technical data and optimization of work programs.
JSX Energy Inc. is an aggressive exploration company focused on high-growth opportunities in Thailand's petroleum sector.
- 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)