Energi Mega flip-flop, watchout!

Scientific study confirmed that mud vulcano erupted in Lapindo Brantas Inc's Banjarpanji working area was mainly caused by gas drilling, AFP & The Jakarta Post reported today. So, it's not due to earthquake in Yogyakarta as claimed by some 'experts' that pushed government to consider the mudflow as national disaster covered with state budget. On the other end, Energi Mega Persada, Lapindo's parent announced another flip-flop on the Rp3.8 trillion fund raised through rights issue in late 2005. Initially it was loan from Energi to its subsidiaries, including Lapindo, then changed into equity (conversion of loan), and now is asking to change that to loan again. Wanna more? Better watchout!

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