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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
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