Keeper Resources Inc. has been awarded an oil and gas exploration block off the coast of Vietnam.
Keeper said PetroVietnam had selected Keeper and its bidding partner, a major U.S. independent oil and gas producer, as the winners of a tender for Block 124 off the coast of Vietnam.
A final deal is subject to negotiation and execution of a production sharing contract with PetroVietnam, the national oil company of the communist Asian country.
Vietnam currently produces 353,000 barrels of oil and about 742 million cubic feet of natural gas a day.
The company has operations in Canada and Vietnam.