Release: Pertamina and Encore Int?l Ltd?s exclusivity period expires

(December 01, 2010)--Pertamina and Encore Int?l Limited (EIL) jointly advise that the exclusivity period under the Principles of Agreement entered into on 15th October 2010 expired on 30 November 2010 without the parties concluding a transaction.

Under the Principles of Agreement, the parties had agreed to enter into a period of due diligence and exclusive negotiations through to the end of November 2010 for the proposed sale and purchase of a portion of EIL?s shareholding in EEPL, which would have resulted in an indirect shareholding in PT. Medco Energi Internasional Tbk. (ends)