Australia's Nullarbor Holdings to acquire Indonesian upstream asset
Monday, June 6 2005 - 01:48 AM WIB
Australian mining company Nullarbor Holdings Ltd said Monday it had signed a preliminary agreement to take over an Indonesian company, who has operational expertise in oil and gas.
“The preliminary agreement is conditional upon the PT Indonesian Company being awarded a tender for an existing producing oil and gas area,” Nullarbor said in a statement without giving further details.
Nullarbor said it was currently conducting due diligence and expected that process will take 4 to 6 weeks to complete. (Robert)