Andalas has reached a conditional agreement to acquire a 25% interest in the 447-sq km Bunga Mas PSC (Bungamas) in South Sumatra, with the right to increase to 49% and then 100%. Completion is subject to usual conditions including the extension of the explo term of the PSC, which comprises rights to the Bunga Mawar oilfield (45 API oil at ab. 700m). Â The Bunga Mas PSC was last held by Bunga Mas Intl (op), Bunga Mas Energi and Dorato Fiore Pacifico until relinquishment in July 2017. Its current status is unclear.
Andalas has reached a conditional agreement to acquire a 25% interest in the 447-sq km Bunga Mas PSC (Bungamas) in South Sumatra, with the right to increase to 49% and then 100%.