VIVAnews - PT Benakat Petroleum Energy outlines a plan to release up to 40 percent of shares through an initial public offering (IPO) in the first quarter of 2010. The company is estimated to reach Rp 1 trillion worth of fund.
Chief Commissioner of Benakat Petroleum Energy, Erry Firmansyah, said that the company still cooks up the action.
"The 40 percent may be channeled to gain tax incentives," Erry told VIVAnews on Tuesday, Jan 12.
Erry said the fund from the acquisition plan will be used to boost the capacity of Benakat's production. One of the attempts in production rise will be through the acquisition in oil and gas block.
"The acquisition can be carried out in 2010 should there be enough financing and if there is party that would release stocks," he said.
In addition, Benakat would use the IPO fund to build the oil and gas, coal, and manganese production facilities as well as buying supporting processing machines.
He revealed that the party has appointed PT Danatama Makmur as the underwriter.
Benakat Petroleum is an integrated-energy company which focuses on oil and gas and coal mining sectors as well as engineering, procurement, and construction (EPC).
The company has teamed up with state oil and gas company PT Pertamina EP through a production sharing contract in the West Benakat Block exploration in Prabumulih, South Sumatra.
The company now produces two thousand barrels of oil per day. Through the IPO, the company expects that the production may reach six thousand barrels of oil per day.
Benakat's ultimate shareholder is PT Indo Tambang at 89 percent, while PT Inti Permata Nusantara holds 12 percent.
--
Translated by: Bonardo Maulana Wahono
Basis OPM Paro Nduga Lumpuh Digempur TNI, 2 Anak Buah Egianus Kogoya Tertembak
Mereka terluka dari melarikan diri.
