SPC Increases Stake in Cambodia's Block B

SPC Cambodia Ltd, and its partners have completed their acquisition of a combined 10% interest in Block B exploration block in Cambodia, further to an announcement on 5 January 2007. This follows approvals by the Cambodian National Petroleum Authority.

The additional 10% interest was acquired from CE Cambodia B Ltd, a wholly-owned subsidiary of Cooper Energy Limited. With its completion, SPC Cambodia and its two partners, PTTEP International Limited and Resourceful Petroleum Limited, each have one-third share in Block B.

Block B is located 250km off the coast of Cambodia to the east of the Thai-Cambodian Overlapping Claims Area, in the Gulf of Thailand. Block B lies to the southeast of the Khmer basin where a number of oil and gas discoveries have been made.

SPC is a regional oil and gas company with interests in oil and gas exploration and production, refining, terminalling and distribution, marketing and trading of crude and refined petroleum products. It is an associated company of Keppel Oil & Gas Services Pte Ltd, a wholly-owned subsidiary of Keppel Corporation Limited.