NuEnergy gets nod for Indonesia coal bed methane plan

NuEnergy gets nod for Indonesia coal bed methane plan

Globaltec Formation Bhd said its Australia-listed 44%-owned subsidiary
NuEnergy Gas Ltd has received approval to prepare a plan of development for
its Tanjung Enim production sharing contract (PSC) in South Sumatra,
Indonesia.

The approval marks a significant milestone for Globaltec as it works towards
delivering the group's first coal bed methane supply.

In a filing with Bursa Malaysia yesterday, Globaltec said NuEnergy will now
work with Indonesian regulator SKK Migas, which granted the approval for
preparing the plan of development.

The clean energy company is aiming to submit its plan of development
proposal to Indonesia's ministry of energy and mineral resources through SKK
Migas before the end of the year.

Globaltec said its partners - PT Pertamina and PT Bukit Asam, two
state-owned energy and resources companies - have given their commitments to
the plan of development preparation and to the long-term development of the
Tanjung Enim PSC.

The proposed plans for the development target two areas - the north and
north-west of the Tanjung Enim PSC, where NuEnergy has focused its
exploration, drilling and pilot production activities over the last eight
years.

"The target buyers will be focused around the proposed plan of development
areas, which is close to the existing networks and markets with gas
infrastructure. During the plan of development preparation, NuEnergy will
carry out discussion with the target buyers and negotiate on gas sales
agreements," said Globaltec.

NuEnergy holds six onshore PSCs across South Sumatra, Central Sumatra and
East Kalimantan.

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Link to Original Article:
http://www.theedgemarkets.com/article/nuenergy-gets-nod-indonesia-coal-bed-m
ethane-plan

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com