Australia’s Cooper Energy to sell working interest in Tangai-Sukananti KSO

JAKARTA (rambuenergy.com) – Australia’s Cooper Energy Limited (ASX: COE) said said it is looking to sell its working interest in the Tangai-Sukananti KSO, South Sumatera.

Cooper Energy holds 55 percent working interest in the Tangai-Sukananti KSO through its subsidiary Cooper Energy Sukananti Ltd (Operator), and the remaining 45 percent working interest is owned by PT Mega Adhyaksa Pratama Sukananti Ltd.

The company said the sales process is ongoing with “good interest levels” from potential investors.

The KSO is currently producing at 800 bopd (100% basis), with opportunity to increase to 2,000 bopd.

Earlier, Cooper has agreed to sell Sumbagsel and Merangin III PSCs Mandala Energy for US$8.25 million, subject to Indonesian Government approval. The company expects the sale will be concluded this year. (*)

 

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