The seismic data was acquired by BGP China, a subsidiary of China National Petroleum Corporation and is being processed in Calgary by CCG Veritas.
The objective of the seismic program is to identify drillable prospects in the north Phetchabun sub-basin by maturing one or more of the five leads previously confirmed by historic 2D seismic data.
Oil Optimization president & CEO Luc Desmarais said, "After the new data has been processed and interpreted, our plan is to drill the most prospective targets to identify the presence of an active petroleum system, a very positive development for the Company and its shareholders."
The company’s technical team will now follow up with detailed interpretation in order to better determine the location of its first exploration well on this concession.
Oil Optimization currently holds interests in three exploration blocks including a 100% interest in Block L3/50, a 100% interest in Block L14/50 and a 100% interest in Block L9/48.
