Manhattan Resources drops plan to acquire stake in E. Kalimantan exploration block
Tuesday, July 25 2006 - 01:09 PM WIB
Singapore Exchange-listed firm Manhattan Resources Limited Manhattan Resources announced on Tuesday it had decided to cancel acquisition of 15% equity stake in Provident Indonesia Energy, LLC following extensive due diligence.
Provident, which is a subsidiary of Manhattan Kalimantan, has a 100 percent working interest in Tarakan Offshore PSC, in Tarakan, East Kalimantan. Provident was awarded the block in 2003. (alex