JSX Energy Strategic Partnership Update
Tuesday March 13, 11:34 am ET
BANGKOK, Thailand--(BUSINESS WIRE)--JSX management is encouraged by the tremendous progress being made in negotiations with strategic partner to explore and develop the Mae Sot basin. The lawyers involved believe they have successfully addressed all relevant legal, financial and tax issues, confirming that JSX will retain full use of its $25,000,000 "tax pool" during the first 10 years of production under the proposed structure. Final meetings between the partners and the Ministry of Energy are scheduled for Wednesday in Bangkok and management is confident that an agreement can be reached.
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In the meantime, work is proceeding on schedule, with seismic reinterpretation expected within two weeks and environmental planning well underway. The Company has also met with several drilling companies and is confident that drill rigs and other equipment will be available when required.
JSX ENERGY INC. (OTC:JSXG - News; 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. For more information on the Company 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: JSX Energy Inc.
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