Coro's 2018 conditional agreements to acquire a 42.5% stake from AWE in the Bulu PSC off East Java is in limbo. The 2 Dec '19 deadline for govt acceptance has passed without news, and a 6-month 'force majeure' extn is now sought to complete the USD 10.96 MM deal (+ re-imbursements of USD 1.04 MM debt). The 698-sq km block contains the Lengo gasfield, for which an FDP has already been approved by the authorities. Partners yet-to-be KrisEnergy (op), Coro, Satria Energindo + Satria Wijaya Kusuma. KrisEnergy is seeking to dilute its 42.5% stake.
Indonesia (South Sumatra B.) Bulu