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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
 COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, located some 30km to the north of Sakari’s Jembayan Mine in East Kalimantan.
According to statement posted on company’s website, under the HOA, Sakari will undertake an exploration programme and due diligence review and, if the results from these activities prove satisfactory to Sakari, the acquisition will proceed to completion.
Drilling of the properties will start in August 2012 with preliminary results expected towards the end of the year.
Sakari has paid an initial, refundable cash deposit of US$2 million. If the transaction moves to completion, Sakari will pay an additional US$2 million in cash plus an equity component, which will be determined by reference to the results from the drilling programme and the number of IUPs to be acquired.
The total equity consideration is capped at US$60 million in value, should Sakari decide to acquire an interest in all the IUPs.
The statement further said that, the HOA is between PT Separi Energy, a subsidiary of Sakari Resources Limited, and Rudy Ong Chandra and Hairil Hasmy (Sellers). Under the HOA Separi Energy may acquire 100% of the shares in all or any of PT Sepiak Jaya Kaltim, PT Cahaya Bara Kaltim, PT Bunga Jadi Lestari and PT Anugerah Pancaran Bulan, the companies which own the exploration IUP’s.
The book value, net tangible asset value and open market value of the companies have not yet been determined and they have not yet commenced business.
About Sakari:
Sakari (SGX: SAR) is a coal company with a focus on supplying thermal coal to major power utilities and industrial users in Asia. Production from Indonesia in 2011 was 10.7Mt, making it one of the country’s largest thermal coal exporters.
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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Wood Mackenzie - Singapore
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- Economic Council, Georgia
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- Bulk Trading Sa - Switzerland
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- Indian Oil Corporation Limited
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- Attock Cement Pakistan Limited
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- Georgia Ports Authority, United States
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- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
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- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
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- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
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- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
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- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
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- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
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- Indogreen Group - Indonesia
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- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- PTC India Limited - India
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- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
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- Energy Development Corp, Philippines
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- IHS Mccloskey Coal Group - USA
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- Indo Tambangraya Megah - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Merrill Lynch Commodities Europe
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- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
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- Coal and Oil Company - UAE
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- PowerSource Philippines DevCo
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- Australian Coal Association
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- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Planning Commission, India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
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- Miang Besar Coal Terminal - Indonesia
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- Indika Energy - Indonesia
- Wilmar Investment Holdings
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
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