northern portion of petchabun basin snapped up

someone thinks the trend spreads northwards - we've barely touched our northern block - still short term blue sky around if L20/50 fails

OIL OPTIMIZATION INC TO EXECUTE PETROLEUM CONCESSION IN THAILAND
CALGARY, Feb. 3 /CNW/ - Oil Optimization Inc. (TSXV: OOI) (the "Company") today announced that Thailand's Ministry of Energy has confirmed February 8, 2011 as the official signing date of Petroleum Concession No. 1/2554/109, which will formally confer a 100% interest in Block L14/50 to the Company.

Block L14/50 is located in central Thailand and covers the entire northern portion of the Petchabun Basin. The southern portion of the same basin, whose rights are held by Pan Orient Energy (TSXV: POE) and Australia's Carnarvon Petroleum Limited (ASX: CVN), is immediately south of Block L14/50 and has a current productive capacity of 8,400 BOPD.

About Oil Optimization Inc. (TSXV: OOI)

Oil Optimization Inc. is a junior oil and gas exploration company headquartered in Calgary, Alberta with operations located onshore Thailand. The Company currently holds interests in two exploration blocks, being a 100% interest in Block L3/50, a 50% interest in Block L9/48 and has conditionally been granted a 100% interest in Block L14/50. The Company, through its wholly-owned subsidiary, JSX Energy (Thailand) Limited, is focused on exploring and developing each of these blocks as well as seeking accretive acquisitions in Thailand.