Andalas Energy and Power Plc – Bunga Mas Update

Andalas Energy and Power Plc provides the following update in relation to its proposed acquisition of an interest in the Bunga Mas production sharing contract (“PSC”) (announced 29 August 2018). The long stop date for fulfilment of the conditions precedent to the sale and purchase agreement expired on Friday, 15 February,  and the parties have […]

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 […]