The shares structure of Offshore North West Java (ONWJ) and the acquisition by MTFN

PT Capitalinc Investment Tbk. (MTFN) is targeting up to Rp 2.78 trillion from rights issue which will be held in March 2014.

The majority of the funds will be used to acquire the ONWJ oil and gas block.

Approximately 93.48% or U.S. $ 210 million (Rp2, 52 trillion) of funds from the rights issue will be used to acquire 100% shares  Owen Holding which are owned by Densel Ventures Ltd. (DVL) of 69.39% and OG Resources Limited at 30.61%.

Owen is the owner of 49% shares EIBL.

The EIBL is the owner of 100% shares  Energi Mega Persada ONWJ Ltd. (Labuan, Malaysia) which owns 36.72% working interest in ONWJ Block.

The remaining 51% shares EIBL is still belong to the oil and gas company under the control of Bakrie Group, PT Energi Mega Persada Tbk.

Stock purchase plan is done through a conditional share sale and purchase agreement (CSPA) which was signed on January 30, 2014.

Struktur saham ONWJ

Picture – Shares Structure (participating interest) and Acquisition ONWJ block by MTFN

Note:
ONWJ block covers an area of ​​8,300 square kilometers, which stretches from north of Cirebon, West Java, to the Thousand Islands (Kepulauan Seribu), Jakarta.

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One response to “The shares structure of Offshore North West Java (ONWJ) and the acquisition by MTFN

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