Flop at Fasken Block
The fate of the State Gas Company (PGN) in the Fasken Shale Gas field in the United States, is in serious danger of losing its investment there. The condition of its American partner, Swift Energy Co. also continues to decline. Without a quick and proper bail out, state funds invested by a PGN subsidiary, Saka Energi Indonesia, could vanish into thin air.
The management of PGN and Saka Energi should have reacted fast when the New York Stock Exchange reprimanded Swift Energy for allowing its shares to remain below the minimum US$1 per share for the past month. That is far below the price of one year ago, when Saka Energi acquired 36 percent right to exploit in the Fasken gas field, which was US$12 per share.
August 25, 2015
The fate of the State Gas Company (PGN) in the Fasken Shale Gas field in the United States, is in serious danger of losing its investment there. The condition of its American partner, Swift Energy Co. also continues to decline. Without a quick and proper bail out, state funds invested by a PGN subsidiary, Saka Energi Indonesia, could vanish into thin air.
The management of PGN and Saka Energi should have reacted fast when the New York Stock Exc
...