JSX Energy’s (USOTC:JSXG) (FWB:JXN) (WKN:A0LGD2) (ISIN:US46629L1070) 1,000,000 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. 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," said JSX President Luc Desmarais.
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 8 years, while production licenses can last as long as 30 years depending on reserves in the basin.
JSX ENERGY INC. (USOTC:JSXG) (FWB:JXN) (WKN:A0LGD2) (ISIN:US46629L1070) is an aggressive exploration company focused on high growth opportunities in Thailand’s petroleum sector. Management is comprised of leading experts in Thailand’s energy Industry who have positioned the Company to benefit from revised government policies designed to increase domestic production – visit: www.jsxenergy.com
A number of statements contained in this report are forward-looking statements, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors not set forth herein. The actual results that the Company may achieve may differ materially from any forward-looking statements due to such risks and uncertainties. Contact JSX Energy Investor Relations, Ms. Supeecha Hundstuen: +662-231-8299
source news : home.businesswire.com
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