Manhattan revives plan to acquire stake in E. Kalimantan block
Tuesday, June 12 2007 - 06:26 PM WIB
Singapore Exchange-listed firm Manhattan Resources Limited announced on Tuesday it has entered into an MoU with Win Bright Pte. Ltd. and Edgeville Pte. Ltd., in relation to a possible acquisition of up to 45 per cent of the ordinary shares of Manhattan Kalimantan Investment Pte. Ltd.
Manhattan Kalimantan is a private company limited by shares incorporated in the Republic of Singapore with main assets being its interest in Provident Indonesia Energy LLC. Provident has 100 percent interest in Tarakan Offshore PSC in East Kalimantan.
The MoU would be good for 6 months.
Manhattan last year has dropped plan to acquire 15 percent shares of Provident Energy following extensive due diligence.(alex)