(Ho Chi Minh City, Vietnam) Saigon Asset Management (“SAM”) is pleased to announce that as part of its group’s proprietary investment initiatives, its investee CFG Energy Pte. Ltd (“CFG”), along with its partners TRG M15 Pte. Ltd and Century Bright Gold Co. Ltd,have signed a production sharing contract with state-owned firm Myanmar Oil and Gas Enterprise (MOGE) in Naypyidaw, Myanmar for shallow offshore block M15.
The contract allows CFG to assess the potential of the shallow water M15 block off Tenasserim Division. The M15 block is directly adjacent to the south of the producing multi TCF Yetagungas field operated by Malaysia’s Petronas and Thailand’s PTTEP, which has an estimated 4.9 TCF.
The M15 Block encompasses 13,500 sq. km and contains multiple mapped targets with world class potential. CFG is currently reprocessing existing 2D and will commence a 3D seismic survey once the required environmental impact assessment studies are completed.
Louis Nguyen, SAM’s Chairman stated that, “We see Myanmar as an attractive investment destination within the Greater Mekong region, with annual growth forecasted at 8.5 percent. The country has abundant natural resources, which will be a key engine of growth for the country. SAM continues to assess new investment opportunities within Myanmar, especially for Vietnamese firms that are seeking to expand within the Mekong Region.”
About Saigon Asset Management
Established in 2007, Saigon Asset Management (SAM) provides solutions in investment banking and advisory services in Vietnam, Myanmar, Cambodia and Lao PDR. SAM is also the investment manager of Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH), two Cayman Islands domiciled funds with net assets of over $80m. SAM maintains a representative office in Ho Chi Minh City and employs a team of investment professionals with diverse international financial backgrounds and proven track records who are performance focused while adhering to the highest levels of business ethics. For more information, please visit our website at www.saigonam.com.