MARKETS

Criterium to make big profit with Bulu PSC sale in Indonesia

Just under a year after announcing its entry into the Indonesian petroleum sector with the purchase of a 42.5% interest in the Bulu PSC, Canada's Criterium Energy has now revealed it is offloading its stake to a yet to be named buyer. Significantly, it appears the company will make a tidy profit too.

Colin Hay

Indonesia flags

Indonesia flags

Upon completion of the sale, Criterium will have received US$7.75 million, including US$2 million paid as a non-refundable deposit, following the signing of a definitive agreement. A further US$5.75 million...

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