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RH Petrogas to buy Orchard Energy from Temasek's Ellington
By ANGELA TAN
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RH Petrogas Ltd on Thursday said it has agreed to buy Orchard Energy Pte Ltd from Ellington Investments Pte. Ltd, a unit of Temasek Holdings (Pte) Ltd, for between S$351,000 and S$371,000 in cash.
Orchard Energy holds a production sharing contract (PSC) for the exploration and production of petroleum in West Belida Block, Jambi, South Sumatra, Indonesia.
RH said the exact price will depend on the day of completion. It will also assume the balance contractual commitment of US$5.66 million required under the PSC.
=> And how much loss is being realized from the deal?
By ANGELA TAN
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right>
</TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Feedback</TD></TR><TR class=font10><TD colSpan=2><!-- AddThis Button BEGIN --><SCRIPT type=text/javascript src="http://s7.addthis.com/js/250/addthis_widget.js#pub=xa-4ae026ba0e05c08d"></SCRIPT><SCRIPT type=text/javascript> var addthis_config = { username: "xa-4ae026ba0e05c08d", services_compact: 'facebook, twitter, favorites, myspace, google, digg, live, delicious, stumbleupon, more', services_exclude: 'print', data_use_flash: false } </SCRIPT> <!-- AddThis Button END --></TD></TR></TBODY></TABLE>RH Petrogas Ltd on Thursday said it has agreed to buy Orchard Energy Pte Ltd from Ellington Investments Pte. Ltd, a unit of Temasek Holdings (Pte) Ltd, for between S$351,000 and S$371,000 in cash.
Orchard Energy holds a production sharing contract (PSC) for the exploration and production of petroleum in West Belida Block, Jambi, South Sumatra, Indonesia.
RH said the exact price will depend on the day of completion. It will also assume the balance contractual commitment of US$5.66 million required under the PSC.
=> And how much loss is being realized from the deal?
