Andalas Energy and Power Plc (ADL) Bunga Mas update
Andalas Energy and Power Plc recognises recent press speculation regarding the Bunga Mas PSC (“PSC”) acquisition (announced 29 August 2018) and would like to clarfy the current position. Andalas has been advised that the government of Indonesia (“GOI”) has provided the PSC contractors, with an agreement to convert the PSC into a gross split production […]
Andalas Energy & Power #ADL – Bunga Mas PSC one of 6 licences to be converted to gross split PSC by mid-Feb 2019
Andalas Energy and Power PLC, is pleased to report that Arcandra Tahar, Deputy Minister of Energy and Mineral Resources (“Deputy Minister”) issued a press release on Friday 11 January 2019, that the Bunga Mas PSC will be one of 6 licences that will be converted to gross split PSC’s by mid-February 2019. As announced on […]
Andalas Energy & Power #ADL – Update on Colter well programme
Andalas Energy and Power PLC, is pleased to report that Corallian Energy Limited (“Corallian”), the Exploration Operator for Licence P1918, has informed the joint venture partners that the Department for Business, Energy and Industrial Strategy, Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) has advised the Oil and Gas Authority of its in principle agreement […]
Andalas Energy & Power #ADL – Response to Social Media Speculation
The Company notes recent social media discussion regarding the potential purchase of an interest in an oil and gas asset in Indonesia, the Bunga Mas PSC. In accordance with the Company’s previously stated strategy, the Company continues to evaluate a number of oil and gas projects, of which Bunga Mas is one. However, discussions remain […]