Oil Optimization Completes Seismic Program on Block 14-50 Onshore Thailand
BANGKOK, THAILAND--(Marketwire - Oct. 31, 2012) - Oil Optimization Inc. ("OOI" or the "Company") (TSX VENTURE:OOI), the southeast Asian oil & gas explorer, is pleased to announce the successful completion of its 50 line kilometer 2D seismic program on Block 14-50, onshore Thailand. The seismic data was acquired in the north Phetchabun sub- basin by CNPC subsidiary, BGP Inc of China and is being processed in Calgary by CCG Veritas.
The objective is to identify drillable prospects by maturing one or more of the five leads previously confirmed by historic 2D seismic data. OOI'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.
To highlight the program's success, OOI's President & CEO Luc Desmarais remarked, "I'm very encouraged by the results of the program to date. 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."
About Oil Optimization
Oil Optimization Inc. (TSX VENTURE:OOI) is a Canadian listed international junior oil and gas exploration company with operations located onshore Thailand. OOI currently holds interests in three exploration blocks, being a 100% interest in Block L3/50; a 100% interest in Block L14/50, which is subject to a farm-out to Rockstone Petroleum Limited who can acquire up to a 60% interest; and a 100% interest in Block L9/48. The Company is focused on exploring and developing each of these blocks as well as seeking accretive acquisitions in the region. Visit www.oilop.com for more information.
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Oil Optimization Inc.
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