$ENRG and $MEDC ONWJ, fourth largest crude oil producer in Indonesia behind Chevron Pacific Indonesia, Pertamina EP, and Total E&P Indonesie, produced 38,000 barrel per day (bpd) as of May this year or 16 percent above ONWJ’s average daily output throughout last year.
On May 1, production reached 42,200 bpd, which is the highest daily production of the last 10 years. Pertamina continues to add its ownership in ONWJ, buying another 5% interest from Talisman Energy. Now Pertamina owns 58.28% of ONWJ, $ENRG owns 36.72%, and Risco Energy owns 5%. Pertamina, $ENRG, and Risco are local companies. Anyone ever wonder why the locals are so bullish on ONWJ while the foreigners hit the door? Trust the local knowledge. Buy $ENRG. Its older brother $MEDC is not looking bad either. Selengkapnya : http://stockbit.com/post/37436
