JSX Energy Awarded Oil Block L17/48 by Thai Government

JSX Energy was awarded the exclusive rights to petroleum Block L17/48 from the Thai Ministry of Energy. The exploration rights extend until year 2016, while production licenses are valid for thirty (30) years.

Block L17/48, also known as the Mae Sot Basin, consists of 1,000,000 acres located in an under-explored yet highly prospective area of northwest Thailand. In excess of eighteen (18) billion tons of rich oil shale has been referred to in the Mae Sot Basin report prepared by the Thai National Energy Policy Office, a Secretariat of the Prime Minister. This would contain some six (6) billion barrels of shale oil, an excellent source material for conventional oil & gas reserves.

The Mae Sot is a rift basin, containing fluvio-lacustrine sediments in the Oligocene. In the basin directly to the east of the Mae Sot, sand reservoirs are formed in channels and other areas of drainage creating traps for oil and gas as evidenced by the Sirikit oil field, Thailand's largest onshore oilfield, which produces some 20,000 barrels per day from sands encountered at between 1,600 and 2,000 meters.