Transfer of Harvest?s shares in Budong-Budong PSC completed

By Romel S. Gurky

NYSE-listed Harvest Natural Resources announced on Wednesday that the transfer of shares of Harvest Budong-Budong B.V., the operator of Budong-Budong PSC in West Sulawesi, to Stockbridge Capital Limited was completed on May 4, 2015.

On February 5, 2015, the Company entered into a Share Purchase Agreement to transfer shares of Harvest Budong-Budong B.V. to Stockbridge Capital Limited for a nominal amount.

Last November, Harvest announced it had filed a request with the government to relinquish the block. However, on February 17, 2015, a withdrawal request of the earlier termination request was made to the Indonesian government and the withdrawal request was accepted on April 15, 2015 , the firm said.

Harvest Budong-Budong BV holds a 71.5 percent interest in the Budong-Budong PSC, with the remainder held by Tately Budong-Budong BV.

Editing by Johannes Simbolon