Oil Optimization Pens Petroleum Concession Agreement in Thailand

Calgary-based Oil Optimization Inc., has signed a petroleum concession agreement with the Ministry of Energy in Thailand for block L14/50 which covers one million acres in central Thailand and the entire northern portion of the Petchabun Basin. Oil Optimization now owns exclusive exploration rights to the block until 2020. It has a 20-year production licence from the date of discovery with a potential 10-year extension.