JAKARTA (Yosefardi) – Indika Energy (INDY) has been granted approval for the acquisition of 10% interest in Southwest Bird’s Head production sharing contract from Total E&P.
PT Indika Multi Daya Energi (IMDE), subsidiary of INDY, and Total E&P Indonesia West Papua have signed deed of assignment regarding the interest on May 27, 2013.
Southwest Bird’s Head is an oil and gas exploration block located in West Papua province, Indonesia.
Indika Energy shares, meanwhile, ended lower by 1.96% to its now low at Rp1,000 Wednesday (May 29). The stock has collapsed 81% from its peak in early 2011.