Author: Hatman Bintang

Tarsus Acquires Infrastructure Asia for $2.9 Million

Posted by | January 18, 2013 | , | 0 |

Tarsus will pay initial cash consideration on completion of US$0.5 million for the 51% interest, with estimated total deferred payments of approximately US$2.4 million. Tarsus and PT Event Pro have conditional put and call options at various points in 2016 and 2017 in respect of the outstanding 49% shareholding in Infrastructure Asia, which has total market capitalization of US$23 million. PT Infrastructure Asia currently owns and organizes three annual business-to-business exhibitions and one seminar series in Indonesia, namely IIICE (The Indonesia International Infrastructure Conference and Exhibition), IFTS (a series of infrastructure related seminars), ITMIT (a new launch exhibition and conference in November 2013 focusing on the Telecommunications, Media and IT sectors), and APSDEX (Asia Pacific Security and Defence Exhibition)....

Read More

Pertamina & Daqing Oilfield Sign HoA to Boost Production

Posted by | January 16, 2013 | , , | 0 |

The HoA aims for three months feasibility study by Daqing on the fields offered by Pertamina. Pertamina expects Daqing to bring investment proposal post the study. The HoA may produce a contract for further development of the oilfield. There will be special President Decision issued for the contract. Unfortunately, Pertamina did not disclose details of cooperation between the two companies....

Read More

Newcastle Coal Shipment Declines 8%

Posted by | November 9, 2012 | , , | 0 |

QUEENSLAND (Indonesia Today) – Coal shipment at Newcastle Port was down 8% to 2.62 million tons for the week ended 10 September 2012 against the previous week. There were 11 vessels off the port waiting to load and 56 vessels with Notified Arrival Time allocated and in transit. A total of 28 vessels entered the port with average waiting time of 11.36 days. Newcastle has revised up its shipment projection for this month to 12.22 million tons against 11.7 million tons on August. Last year, coal export from Newcastle Port, benchmark for Asian market, increased 11% to 114.1 million tons, a new record for the port....

Read More

Lion Energy Claims Further Progress on LOFIN-1, Seram

Posted by | October 10, 2012 | , , | 0 |

BRISBANE, Indonesia Today – The LOFIN-1 well exploration development on the Seram Non-Bula Block PSC is advancing with flowing wet gas on well testing activity, Lion Energy Ltd claimed. On October 6, 2012 a large acid treatment was pumped to the LOFIN formation and allowed to soak for 1 hour. The string then was displaced with diesel prior to the well being trimmed to the flare pit. “The wellhead pressure increased rapidly to in excess of 5,000 psi as the well continued to clean up to the flare pit,” said Lion in a disclosure this morning. The well continued to clean-up and was trimmed to a test separator on the day after and stabilized flow rates recorded on the evening. The well was flowing through a 16/64 inch choke during the stabilized test. The stabilized gas rate stood at 6,900 MMscfD with barrels of 37.9 API condensate per 17.95 MMscf gas. The operator plans to drill the well to a total depth of 4,475.8 meters (14,685 feet). The test rate was restricted due to the pressure rating of the lines downstream of the choke manifold limited to 700 psi. Currently, the operator is completing build-up survey prior to killing well and pulling out of the hole with the test string. Lion Energy controls 2.5% share in the PSC, while CITIC become operator with 51% ownership. Other shareholders in the...

Read More

Robust Claims Prospective Gold in Batu Hitam, Romang

Posted by | October 10, 2012 | , , | 0 |

BRISBANE, Indonesia Today – Robust Resources Ltd, a company affiliated with Salim Group, claims high grade polymetallic zone intersected at the two holes from the Batu Hitam West prospect, Romang Island, Maluku. Both holes intersected near-surface mineralization containing gold and silver. The best result came from LWD222 which intersected 25. @ 1.35 g/t AuEq and 5.2% comb. Pb+Zn+Cu. Detailed soil geochemical survey in the Batu Hitam West area has returned and claimed high gold in soil assays up to 4.55 g/t Au, the highest recorded to date. Robust is a 77.5% direct shareholder in PT Gemala Borneo Utama which owns the IUP on Romang Island. The other 22.5% is held by Salim Group. Salim Group also owns 19.69% of Robust Resources Ltd....

Read More