SYDNEY (Yosefardi) – NuEnergy has in fourth quarter of 2015 concluded the acquisition of one if the most prospective Coal Bed Methane (CBM) assets in Indonesia, Tanjung Enim PSC from Dart Energy (Indonesia) Holdings Pte Ltd.

The exploration period of Tanjung Enim PSC was extended for an additional period of 4 years to August 3, 2019.

Immediate results were seen from this asset with gas production after the commissioning of initial production test through dewatering.

NuEnergy said it will continue focus on this assets in 2016 to prove the level of resources and to upgrade the assets towards reserve booking, which will be the first milestone leading up to the approval of the Plan of Development.