PNOC EC to extend due diligence on Kalimantan coal concession

PNOC-EXPLORATION Corp., the upstream oil and coal arm of Philippine state-owned Philippine National Oil Co., has requested to extend its due diligence on the coal concession in Ampah, East Barito regency, Central Kalimantan.

?PNOC EC requested PAMT, the mine concession owner of Ampah in Central Kalimantan, in June 2010 for an extension of the due diligence to further explore the central part of the coal block,? the company said in a quarterly report last week.

The company had appointed PT Trikarya Intidrill Persada to conduct in-fill drilling and in February this year, Trikarya completed 12 in-fill drillholes and it confirmed the thickness and coal quality within the block.

In April 2010, the results of the analysis were submitted to PT Runge which has engaged as third party assessor to evaluate the project?s economic viability. (denny)