The Board of JSX ENERGY Inc. (FWB:JXN) (WKN:A0LGD2) (OTC:JSXG) (ISIN:US46629L1070) is pleased to announce that the Company 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.
JSX ENERGY INC. 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 JSX to benefit from revised government policies designed to increase domestic production - for more information visit: www.jsxenergy.com
Note: 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 our Investor Relations Department at: +662-231-8299 or via email: Investors@jsxenergy.com