Ephindo, Armor Capital to explore CBM in E. Kalimatan
Friday, November 16 2007 - 02:04 AM WIB
Local firm PT Energi Pasir Hitam Indonesia (Ephindo) plans to cooperate with Canada-based firm Armor Capital to explore for coal bed methane (CBM) in Kutai block, East Kalimantan, Investor Daily reported on Friday.
President Director Wahyudin Yudiana Ardiwinata said in Jakarta on Thursday that Elphindo-Armor consortium had secured license to undertake exploration study in the block.
The consortium of Serica Energy - Ephindo won the right to develop Kutai Block through direct offering whose result was announced December 13, 2006. (*)