Mudflow Provisions for Energi Mega & Medco Energi
In the next few hours PT Energi Mega Persada Tbk might announce its 2006 audited financial report and soon to be followed by PT Medco Energi International Tbk. It's interesting to see how much the company's provision for mudflow in Sidoarjo.
Santos put Aus$67 million net provision in its 2006 report. Santos owns 15% participating interest in Banjar Panji-1 drilling well, the primary source of the mudflow erupted since May 29. Energi Mega's Lapindo Brantas Inc is the largest shareholder in Brantas PSC with 50% participating interest (as an operator as well), while Medco owns 35%. If Santos is the benchmark, Energi may have to set provision of Aus$200 million?
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Santos put Aus$67 million net provision in its 2006 report. Santos owns 15% participating interest in Banjar Panji-1 drilling well, the primary source of the mudflow erupted since May 29. Energi Mega's Lapindo Brantas Inc is the largest shareholder in Brantas PSC with 50% participating interest (as an operator as well), while Medco owns 35%. If Santos is the benchmark, Energi may have to set provision of Aus$200 million?
READ MORE!!!
posted by yosef at 3:19 PM
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