TORONTO (Yosefardi) – Ecosse Energy Corp., a company focused on oil and gas exploration and production in Indonesia, announces that it has sold its subsidiary company Ecosse Energy (Manokwari) Ltd (EEML) to PT Morrison Oil (PTMOL) an Indonesian oil and gas company.
EEML owns a 100% working interest in the Manokwari PSC in Papua, Indonesia which allows it the rights to explore and exploit the hydrocarbons within the PSC.
The Manokwari PSC is located onshore in the north of the Bintuni basin in Papua Province in eastern Indonesia and covers an area of 3,902.66km2 (964,368 acres).
EEML was committed to the Indonesian authorities to spend $11,633,000 on the Manokwari PSC in its most recent work program, which it has been unable to finance.
Ecosse Energy Corp has wholly owned subsidiary including Ecosse Energy (Bengkulu) Pty Ltd (EEB), a private Australian company operates in Indonesia.
EEB owns a 100% working interest in the Bengkulu PSC in Sumatra, Indonesia. The Bengkulu PSC covers 4,101km2 (1,013,602 acres) and consists of both onshore and offshore portions.