Source Petroleum to acquire Fuel-X
Monday, November 20 2006 - 02:29 AM WIB
Canadian junior oil and gas firm Source Petroleum, Inc. announced Friday it had executed a letter of intent to acquire another canadian firm Fuel-x International Inc.
Terms and conditions of the acquisition were not disclosed.
Fuel-x International is a Calgary-based international oil and gas company whose assets are interest in two Indonesian oil and gas blocks. The company has 50 percent interest in Sebuku PSC offshore East Kalimantan and 30 percent in Tungkal PSC in Southern part of Sumatra. Both blocks are operated by Pearl Oil.(alex)