Source: Criterium Energy Ltd.
  • Criterium Energy (CEQ) provided an operational update on its projects in in Southeast Asia
  • On March 24, 2023, the Indonesian Ministry of Energy and Mineral Resources expressed discontent with Criterium over communication provided prior to the indirect change of control transaction with AWE Pty Ltd.
  • Criterium’s team maintains its communication and documentation was in accordance with Ministry regulations and laws
  • Criterium Energy Ltd. (CEQ) opened trading at $0.07 per share

Criterium Energy (CEQ) provided an operational update on its projects in in Southeast Asia.

The company’s two projects in the region are the Bulu PSC and Lengo Gas Development.

Criterium owns a 42.5 per cent working interest in the Bulu PSC which contains the fully appraised Lengo Gas Field​. Its Joint Venture partners are Kris Energy (42.5 per cent and operator), PT Energindo (10 per cent), and PT Wisma (5 per cent)​.

Source: Criterium Energy Ltd.

On March 24, 2023, the Indonesian Ministry of Energy and Mineral Resources issued a news release expressing discontent with the communication provided prior to the indirect change of control transaction between Criterium and AWE (Offshore) Pty Ltd.

Criterium’s team replied that the “content unclear” and has requested a meeting with the Ministry to seek clarification, as the company maintains its confidence that its communication and documentation was in accordance with Ministry regulations and laws.

Criterium Energy Ltd. (CEQ) is an independent upstream energy development and production company engaged in the acquisition of assets for the exploration, development, and production of oil and natural gas. Criterium is focused on its continued engagement with its Bulu PSC joint venture partners to deliver the Lengo domestic gas development. The company’s major operations are located in Indonesia and Canada.

Criterium Energy Ltd. (CEQ) opened trading at $0.07 per share.

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