TexStar Oil announces oil drilling and exploration plans in Indonesia

Source:TexStar Oil Corporation

TexStar Oil announces oil drilling and exploration plans in Indonesia

TexStar Oil Corporation (OTCBB: TEXS) announced today that the Company has executed a Letter of Intent (LOI) with PT Bima Sakti Energy for the purchase of drilling and exploration rights of Bima Sakti Area - North Lampung field in Indonesia.

“We are very pleased to be moving forward with our plans of making a long term investment into the exploration and development of on-shore and off-shore oil & gas prospects in Indonesia. Our management’s operations experience in the region, combined with our local partner’s relationships and knowledge of the target fields, makes this an ideal business case for years to come,” said Nathan Halsey, Chairman of TexStar Oil Corporation.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs