Energi Mega adds ownership in Tonga block

The Jakarta Post | Business | Sat, April 20 2013, 2:47 PM

Listed oil and gas company PT Energi Mega Persada said on Friday it had purchased an additional 41 percent participating interest in the Tonga oil block from PT Capitalinc Investment and PT Capital Petroline for US$41.7 million.

The deal takes Energi Mega’s ownership in the Tonga block to 94 percent from 53 percent previously.

“We see a lot of benefits from the Tonga production-sharing contract [PSC]. We have an aggressive plan to drill its oil reserves and prospective resources in the short-term,” Energi Mega president director Imam Agustino said in a written statement.

The Tonga PSC covers a 2,607-square-kilometer area between Dumai and Sibolga in Sumatra. It has proven and probable oil reserves of 3.54 million barrels, and prospective oil resources of up to 61 million barrels.

Shares in Energi Mega (ENRG) closed at Rp 132 apiece on Friday, an increase of 2.33 percent from a day earlier.



Leave a comment

Filed under Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s