SPC acquires interest in Gulf of Thailand block

Singapore Petroleum Co. Ltd. (SPC) has entered into an agreement with the Cambodian National Petroleum Authority for a 30% stake in the Gulf of Thailand's block B. Other partners in the block include PTTEP International Ltd. (operator) with a 30% interest, Resourceful Petroleum Ltd. holds a 30% interest and Cooper Energy Ltd. owns a 10% stake.
Aug. 24, 2005

Offshore staff

Singapore Petroleum Co. Ltd. (SPC) has entered into an agreement with the Cambodian National Petroleum Authority for a 30% stake in the Gulf of Thailand's block B. Other partners in the block include PTTEP International Ltd. (operator) with a 30% interest, Resourceful Petroleum holds a 30% interest and Cooper Energy Ltd. owns a 10% stake.

The three-year exploration program includes the drilling of one exploration well and the acquisition of 200 sq km of 3D seismic data.

The block is located approximately 250 km off the coast of Cambodia to the east of the Thai-Cambodian Claims Area, in the Gulf of Thailand. It is also situated to the southeast of the Khmer Basin where a number of oil and gas discoveries have been made.

(Aug. 24, 2005)

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