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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- The University of Queensland
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Planning Commission, India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
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