Reference is made to PTTEP International Limited (PTTEPI), a 100% owned subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), an operator and sole shareholder of 5 exploration blocks in Myanmar, namely M3, M4, M7, M9 and M11.
PTTEP wishes to announce that in 2005 the company conducted 2D seismic surveys, leading to identification of various reservoir formations. The Company drilled one exploration well, resulting in the natural gas discoveries. However, the reserves number has not yet been identified.In 2006, the Company plans to conduct 3D seismic surveys and the drilling of 6 exploration wells in order to assess the proved reserves potential and establish the production program.
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