22.10.2007 12:15:00
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JSX Energy Granted Final Approval From Thai Government in Relation to Farmout of Petroleum Blocks L3/48, L9/48 and L17/48
JSX ENERGY Inc. (OTC:JSXG) (FWB:JXN) (WKN:A0LGD2) (ISIN:US46629L1070)
announced on April 20th 2007 that it had
entered into a conditional agreement (the "Agreement”)
with Interra Resources Limited ("Interra”)
in relation to petroleum concessions agreements covering Blocks L3/48,
L9/48 and L17/48 (collectively the "Petroleum
Blocks”). The transactions under the Agreement
would be effected by way of assignment of 50% of JSX Energy’s
participating interests in the Petroleum Blocks to Interra. These
assignments were subject to the Thai Ministry of Energy’s
approval.
The Board of Directors of JSX Energy is pleased to announce that the
requisite approval for the assignments was duly granted by the Thai
Government.
JSX Energy and Interra will jointly operate the Petroleum Blocks and
Joint Operating Agreements ("JOAs”)
for each of the Petroleum Blocks will be finalised shortly. After the
JOAs have been executed, the Agreement will be unconditional.
Substantial work has been ongoing with respect to refining work plans
for the upcoming seismic and drilling program. Further detailed
announcements will be made in due course regarding work plans and
progress made with respect to their implementation.
ABOUT JSX ENERGY INC: We are an upstream oil exploration company focused
on high growth/low risk opportunities in Southeast Asia. The Company’s
seasoned management team used its experience and proprietary information
to position the Company to become a leading regional independent
producer of oil & gas. For more information visit our website: www.jsxenergy.com A number of statements contained in this report are forward-looking
statements that involve a number of risks and uncertainties, including
competitive market conditions, successful integration of acquisitions,
the ability to secure additional sources of financing 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. For further information, please contact Ms.
Salisa Lekhasiri via email: investors@jsxenergy.com
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