Calgary, March 31, 2023 - Criterium Energy Ltd. (TSXV: CEQ) ("Criterium" or the "Corporation"), an independent upstream energy development and production company focused in Southeast Asia, is pleased to provide an operational update on the activities of the Bulu PSC and Lengo Gas Development.
On March 24, 2023 the Indonesian Ministry of Energy and Mineral Resources (MEMR) issued a press release expressing discontent with the communication provided prior to the indirect change of control transaction between Criterium and AWE (Offshore) Pty Ltd. Criterium is aware of the press release but finds the content unclear and has requested a meeting with the MEMR to seek clarification as Criterium is highly confident that the communication and documentation provided by Criterium to SKK MIGAS is in accordance with MEMR Regulation 48/2017 and any other relevant laws and regulations.
Criterium is focused on its continued engagement with its Bulu PSC joint venture partners to deliver the Lengo domestic gas development in an efficient and sustainable manner.
See original MEMR press release here.
About Criterium Energy Ltd.
Criterium Energy Ltd. is an upstream energy company focused on the acquisition and sustainable development of assets in SE Asia that are capable of scalable growth and cash generation. The Corporation focuses on maximizing total shareholder return by executing on three strategic pillars, namely (1) successful and sustainable reputation, (2) innovation and technology arbitrage, and (3) operational and safety excellence.
For further information please visit our website (www.criteriumenergy.com) or contact:
Chief Executive Officer
Criterium Energy Ltd.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160740