Ada yg tahu siapa itu AGNI Inc. Saya dapat dari BusinessTimes hari ini
(http://www.emedia.com.my/Current_News/BTimes/Monday/Frontpage/2003062923571
2/Article/).

Mereka masuk Timor Timur!!. Dimana yah kira kira konsesinya.

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Agni bags East Timor
onshore oil, gas deal
By VASANTHA GANESAN


AGNI Inc, a Malaysian-operated company involved in fuel cell technology, has
emerged as the first company to be awarded onshore oil and gas exploration
rights in East Timor.

Agni will spend about 18 million euros (1 euro = RM4.39) to analyse how much
hydrocarbon is available. The exploration, to start in September this year,
may see Agni raking in revenues from 2004 onwards.

"East Timor is very concerned about the environment. They welcomed our fuel
cell technology and accepted it," Agni chief executive officer Dr Sri M.
Lingham told Business Times.

To power the fuel cell and ensure an environmentally-friendly process
through the use of natural resources, Agni has been given the rights to
generate electricity using both waste and onshore natural gas, including
other hydrocarbons that may be present. Any excess oil and gas not used for
the fuel cell will be exported.

"Agni's expertise is in hydrocarbon processing. Exploration is not our
forte, (so) we welcome partners who are interested in exploration to join
us," Sri Lingham said.

As the first step, Agni will contribute 5 million euros worth of fuel cell
equipment to a power plant in Manatuto, the third largest city in East
Timor. Manatuto is rich in natural resources but lacks energy-generating
capabilities.

"We will be harnessing the onshore gas that is available," he added.

This fuel cell power plant, expected to be up and running by May 2004, will
provide 24 hours of electricity flow to industries and schools, in a country
where currently only the capital city, Dili, enjoys 24 hours of power
supply.

"There is no additional power in East Timor for industries. The masterplan
of East Timor is to develop into an industrial nation," Sri Lingham said.

On June 21 2003, he met with East Timor President Xanana Gusmao and Energy
Minister Ovidio de Jesus Amaral to discuss the details of the power
agreement and the rights for onshore oil and gas exploration.

To hedge against the risk of running out of natural gas within a few years,
Agni has accepted waste to generate power. "We have a fallback. Our business
model is energy generation from waste. This we have secured," Sri Lingham
said.

The developed part of East Timor has some 390 tonnes of municipal solid
waste and 130 tonnes of agricultural waste per day. The entire country would
have some 600 tonnes of waste, which is capable of generating 15 megawatts
of electricity.

Another fuel cell power plant, in Dili, will begin operations in March 2005.

The Government will purchase the energy from Agni with the funds it has from
the European Union and Japan.

In Malaysia, Agni's subsidiary is Agni Energie. The former has a paid-up
capital of US$10 million (US$1 = RM3.80). Its shareholders comprise asset
managers, investment trusts, directors, employees and individuals.

Two weeks ago, Agni signed a memorandum of understanding with the Portuguese
Municipality of Torres Novas to provide a fully-integrated waste-into-energy
conversion solution. The deal is valued at 25 million euros.

Privately-held Agni was founded in 1999 in Delaware, the US. The company
designs and develops fuel cell and hydrocarbon-processing technology. It has
registered offices in Delaware, London, Lisbon, Chennai, Singapore and
Malaysia.


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