Release: EMP responds to Kangean divestment speculation
Tuesday, February 27 2007 - 12:40 PM WIB
Jakarta, February 27th, 2007 -- Indonesian oil and gas company, PT Energi Mega Persada Tbk (EMP) today responded to press speculation relating to press reports mentioning a proposed divestment of a 50 % interest in the Kangean PSC.
Mr Newton, EMP?s President Director confirmed that ?EMP is indeed in detailed discussions with a number of strategic investors who have formally expressed interest in working with EMP to accelerate development of the full reserve and resource potential of the Kangean PSC.
He went further to say that ?these discussions are ongoing and no decisions have yet been made. EMP recognizes however it is in the best interests of shareholders to maximize value through a competitive process?
EMP will keep shareholders and the market informed when there are material developments. (end of release)