Oil Optimization Enters Into Farm-In Agreement with Rockstone Petroleum
Oil Optimization Inc. (OOI), a Calgary-based oil and gas company focused on Thailand, has entered into a farm-in agreement with Rockstone Petroleum Limited in relation to its 100% owned block in the north Phetchabun basin. Under the agreement, Rockstone may acquire up to a 60% working interest in the block through a number of cash payments and funding certain work programs with respect to the block. OOI’s wholly-owned subsidiary, JSX Energy Holdings Limited, through its local branch office in Thailand, will be the initial operator. Rockstone is part of a group of privately-owned companies investing in oil and gas exploration and mining assets.