Novus? Indonesian production down in Q4 2003
Friday, January 9 2004 - 05:32 AM WIB
Australian oil and gas company Novus Petroleum Limited reported on Friday that its Indonesian oil and gas production have declined to 194,000 barrels and 3,627 million standard cubic feet (MMSCF) in the fourth quarter of 2003 from 200,000 barrels and 3,845 MMSCF in the previously quarter, respectively.
Novus? Indonesian productions come from its participation interest in Brantas production sharing contract (PSC) in East Java (50 percent) and Kakap (PSC) offshore West Natuna (25 percent).
Oil and gas producer PT Medco Energi Internasional Tbk has recently launched an off market takeover offer for all of Novus? issued capital at A$1.74 in cash per share or about A$326 million.(robert)