EMP reports successful rights exercise

(Jakarta, 17 February 2010)--On December 31, 2009, PT Energi Mega Persada Tbk (EMP) obtained shareholder approval to undertake a rights issue and debt repayment plan to strengthen the company?s balance sheet and to underpin growth in the medium term. Under the plan, the company issued 20 shares for every 11 held to existing shareholders, Every 16 new shares exercised received 3 warrants.

The rights trading period commenced January 15, 2010 and it finished on February 8th, 2010. A total of 26.18 billion rights and 4.9 billion warrants were issued under the plan. The total rights proceeds amounts to Rp 4.84 trillion (USD 519 million based on Rp 9,337/US$ exchange rate).

The rights issue process was finalized in line with the commitments by PT Danatama Makmur and PT Madani Securities as the standby buyers. Further information related to the rights issue can be obtained from the Company?s prospectus which is available on our corporate website www.energi-mp.com

PT. Bakrie & Brothers Tbk as one of the major shareholders of EMP has subscribed to 4.9 billion shares for Rp 912 billion during the rights offering in accordance with its Letter of Intent disclosed within the corporate prospectus.

Upon the completion of the Rights Issue, the Public now owns 70.42%, PT Bakrie & Brothers Tbk. directly and indirectly owns 28.12%, PT Danatama Makmur and PT Madani Securities as the standby buyers own 1.46% in the Company.

Imam Agustino, EMP?s CEO said ?this successful rights issue and debt repayment is a critical milestone in the turn around of the Company. As a result, EMP is now better capitalized to exploit its growth opportunity at from its considerable and expanded reserves base. We thank investors for endorsing our plans to realize the tremendous production growth potential from our recoverable reserves base which now exceeds 550 million barrels of oil equivalent.? (end of release)