Icon Energy to acquire stake at S. Sumatra block
Saturday, February 3 2007 - 05:21 AM WIB
Australian oil firm Icon Energy Limited is in negotiation with an Indonesian group to acquire a 75 percent interest in an undisclosed PSC block in South Sumatra.
The company said on Jan 31, 2007 quarterly report that the 4,100-sq kms area is located in Palembang basin and is surrounded by oil and gas fields with 300 million barrels of oil equivalent hydrocarbon potential.
The company said it hoped to complete negotiation early in the first quarter of 2007. (alex)