Author: Hatman Bintang

Supreme Energy to Drill Well on Muaralaboh Geothermal Project

Posted by | May 9, 2012 | , , | 0 |

JAKARTA, Indonesia Today – PT Supreme Energy will drill one exploration well on Muaralaboh Geothermal Project, West Sumatera by this month. Supramu Santosa, President Director of Supreme Energy, told Kontan.co.id that the drilling preparation has been completed and will commence the activity by middle of this month. Supreme intends to drill up to five wells, costing around US$100 million in total. Supreme intends to develop 220MW Geothermal Plant from the project, and predicted to commence operation by 2016....

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Finders Awarded Additional Permits for Wetar Copper Project

Posted by | May 9, 2012 | , , | 0 |

SYDNEY (Indonesia Today) – Finders Resources Limited has received a number of additional permits in relation to its Wetar Copper project, Indonesia. The licenses include a further exploration stage forestry permit (pinjam pakai) for the Kali Kuning and Meron deposit locations from ministry of forestry and the final building permits from local government of Maluku for the main Wetar plant and the neutralization plant. Finders said the final gazetting of Maluku spatial plan, however, is still pending release of maps for signing by provincial authorities. “The spatial plan affects multiple parties in the province, including a number of plantation companies and government infrastructure projects in addition to the release of land from forestry classification at Wetar, resulting in much slower progress than anticipated by the local government,” the ASX-listed company admitted. Finders is the operator of the Wetar copper project (95% interest) and the Ojolali gold-silver project (72% interest) in Java Island. The company plans to produce up to 25,000 tons of copper cathode in Wetar Island....

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Bank Sumut Reports Lower Profit, Revenue Increases

Posted by | May 8, 2012 | , , | 0 |

JAKARTA (Indonesia Today) – PT Bank Pembangunan Daerah Sumatera Utara (Bank Sumut) recorded 19.6% decrease on its first half 2012 net profit to Rp180.1 billion despite growing revenues. Its net interest income for the period rose 17.6% to Rp681.1 billion . However, as operating expenses doubled, the bank saw its operating profit dropped 28.5% to Rp246.4 billion. Earnings per share stood at Rp2,263. Net interest margin (NIM) decreased more than 2 percentage points to 8.59%, while return on equity (ROE) lost 15 points to 25.73%. NPL and CAR stood at 1.97% and 13.89% respectively. As of June 2012, is assets totaled Rp21.3 trillion, an increase of 12% rose from end 2011. Liabilities grew 14% to Rp20 trillion....

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Mamahak Coking Coal Output Jumps 50%

Posted by | March 9, 2012 | , , | 0 |

SYDNEY (Indonesia Today) – Kangaroo Resources Limited, controlled by Bayan Resources (BYAN) Tbk, has produced 31,245 tons of coking coal at Mamahak project, East Kalimantan in August 2012, a 50% increase over July. “The monthly production rate represents a significant milestone for Kangaroo’s operating subsidiary as operations at Mamahak continue to ramp up to the targeted commercial production rate of up to 1 million tons of coking coal per annum,” said Kangaroo this morning. At the end of last month, about 107,000 tons of coking coal had been stockpiled at Mamahak, which, according to Kangaroo, will be barged to port once sustained river levels rise with the expected commencement of the wet season this month. Kangaroo has three coal projects in East Kalimantan, namely Mamahak, Pakar, and GPK. Pakar project was acquired from Ilthabi Bara, a company controlled by Ilham Habibie....

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AWE Studies Shale Gas in Central Sumatra

Posted by | March 6, 2012 | , , | 0 |

BRISBANE, Indonesia Today – AWE Ltd is currently carrying out on the shale gas study on the Central Sumatera Basin and is expected to be completed in the first quarter of 2013. AWE previously has scheduled the study to complete in September but has been delayed since then. AWE was granted one of four new shale gas study areas in Indonesia earlier this year, which covering 5,000 sq km in Jambi. AWE also has equal interest in East Muriah PSC, East Java together with Pearl Oil (Satria) Ltd. The company also has acquired majority shares in Ande-Ande Lumut oilfield and Anambas gasfield from Genting Oil this year....

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