South Sea cancels negotiation to acquire E. Kalimantan CBM project
Monday, August 27 2007 - 01:47 AM WIB
Houston-based firm South Sea Energy Corp. announced on Friday it had terminated all negotiations with CBM Asia Development Corp regarding the purchase of the right to participate in a coal bed methane project in East Kalimantan.
The company did not give any detail.
The company still has one outstanding agreement with Indonesian-based company PT. Energi Pasir Hitam Indonesia (Ephindo) to identify and acquire CBM projects in East Kalimantan. (alex)