15 Jun 2018 12:36
Andalas Energy and Power Plc - Response to Social Media SpeculationAndalas Energy and Power Plc - Response to Social Media Speculation
PR Newswire
London, June 15
Andalas Energy and Power Plc(‘Andalas’ or the ‘Company’)
Response to social media speculation
The Company notes recent social media discussion regarding the potential purchase of an interest in an oil and gas asset in Indonesia, the Bunga Mas PSC (“Bunga Mas”). In accordance with the Company’s previously stated strategy, the Company continues to evaluate a number of oil and gas projects, of which Bunga Mas is one. However, discussions remain at an early stage and commercial terms are yet to be agreed. There is no guarantee that terms will be agreed in respect of Bunga Mas but, should they be, or indeed should the Company reach agreement in respect of the acquisition of interests in any other projects, it will update investors at the appropriate stage.
The Company makes no comment regarding speculation on the potential resource or working interest.
For further information, please contact:
| Simon Gorringe | Andalas Energy and Power Plc | Tel: +62 21 2965 5800 |
| Roland Cornish/ James Biddle | Beaumont Cornish Limited (Nominated Adviser) | Tel: +44 20 7628 3396 |
| Colin Rowbury | Novum Securities Limited (Joint Broker) | Tel: +44 207 399 9427 |
| Christian Dennis | Optiva Securities Limited (Joint Broker) | Tel: +44 20 3411 1881 |
| Stefania Barbaglio | Cassiopeia Services Ltd | Stefania@cassiopeia-ltd.com |