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#32446 - 06 Sep 06 11:36 ANT/Energi Persada to sell Lapindo Brantas to Bakrie Group
biznews Moderator Offline
Pujangga Besar

Registered: 24 Apr 08
Posts: 7508
Loc: Jakarta
Energi Persada to sell Lapindo Brantas to Bakrie Group


Jakarta (Antara News) - Oil and gas firm PT Energi Mega Persada intends to sell unit Lapindo Brantas Inc to a company wholly owned by Bakrie Group for a price that has yet to be determined, Energi Mega said.

Energi Mega, through Hong Kong-based Kalila Ltd and Pan Asia Enterprises
Ltd, owns 99.99 pct of Lapindo Brantas which, in turn, holds a 50 pct working interest in Brantas PSC.

The deal is expected to be done in the near future. It is subject to an independent valuation and the approval of shareholders, Energi said as reported by XFN-Asia.

Energi said in a written statement that the planned sale was expected to
maintain its positive financial and operational performance.

The statement said Bakrie Group would fully support Lapindo Brantas's
commitment to doing something about the mud flowing from its Banjarpanji
well, in the province of East Java.

Since May, a flow of thick mud caused by Lapindo Brantas's gas drilling
operations there has inundated nearby villages, rice-fields and sugar cane plantations. (*)
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#32447 - 06 Sep 06 12:40 Re: ANT/Energi Persada to sell Lapindo Brantas to Bakrie Group
Dilli Offline
Pujangga Besar

Registered: 26 Feb 06
Posts: 8044
Loc: Nearest Bar
Check out all the companies involved here. They are all, with the possible exception of Pan Asia Enterprises Ltd (who have hidden themselves very well in this regard) & XFN Asia all Bakrie affiliates.

Something here is as smelly as the mud in Banjarpanji, however, I suppose this was to be expected as the name Bakrie is involved.
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#32448 - 06 Sep 06 12:49 Re: ANT/Energi Persada to sell Lapindo Brantas to Bakrie Group
KuKuKaChu Moderator Offline
Pooh Bah

Registered: 09 Oct 05
Posts: 10790
Loc: Centre of the Universe
yep, something smells, and it ain't mud.

seeing as PT. Energi Mega Persada is already effectively controlled by Bakrie, why are they now selling it to another subsidary company? do they think we are stupid?
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#32449 - 06 Sep 06 18:28 Re: ANT/Energi Persada to sell Lapindo Brantas to Bakrie Group
riccardo Offline
Pujangga

Registered: 12 Oct 05
Posts: 2195
Loc: Jakarta
I bought 200,000 more shares in PT Bakrie and Bros (BNBR) today at the low, low discount price of Rp150 per

When there's blood (er mud) on the streets, it's time to BUY!
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