May 26, 2011

Masela Block & Bakrie next priority

Bakrie Group is seeking that the next priority in Masela Block gas in the Arafura Sea. Bakrie's petroleum arm, PT Energi Mega Persada Tbk (ENRG), has bought 10% and wants more. Nirwan Bakrie's managers are scouting Australian resource acquisitions, as quoted by yesterday.
In a morning note distributed by PT Mandiri Sekuritas, the brokerage said Energi Mega will step up for larger stake going forward. However, Nirwan said nothing has yet been specifically targeted, but "that's a place we have to be very close with".

Disclosure: No position at the stock mentioned above.

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