Vietnam Offshore Contract Awarded

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.