Investment firm acquires stake at 4 PSC blocks

IDX-listed investment firm PT Capitalinc Investment Tbk reported on Thursday that it has signed conditional deal to acquire stake at four oil, gas blocks in and Kalimantan, Sumatra and Java for Rp.55 billion or US$6 million.

The Company said in a report to the IDX that it would acquire 90 percent stake at PT Kutai Etam Petroleum, the operator and 100 percent interest holder of Sei Nangka-Senipah PSC Block onshore East Kalimantan.

It will also acquire stake at two companies to indirectly control 40.85 percent interest at Tonga PSC Block onshore North Sumatra and will acquire 99.5 percent stake of PT Nusantara Gagas Energy, which in turns has 100 percent interest at Air Komering PSC Block onshore South Sumatra.

The Company will also control 100 percent interest at East Kangean PSC block in East Java through acquisition of Greenstar Asset Ltd. (alex)