Sunset Pacific Petroleum Ltd. announced that it has entered into a non-binding letter of intent to acquire a 56.25% participating interest in an existing exploration and production sharing agreement for an onshore block in The Sultanate of Oman, with the current block holder owning an 18.75% participating interest and the Sultanate of Oman owning the remaining 25% participating interest in the property. Sunset will be the operator of the Oman Block. Pursuant to the terms of the LOI, Sunset will pay the current block holder USD 100,000 within 30 days after signing the LOI.