Friday 12 June 1998
Under terms of the agreement, Lasmo gets a 60 per cent stake in any oil or gas found, with 40 per cent held by Pertamina, the Indonesian state oil company. Lasmo will drill two wells in the next three years, after conducting geologic surveys.
Lasmo shares, which have fallen 12 per cent in the past three weeks as oil prices tumbled, fell 10.25p to 257p.
As Voltaire once said, “Ice cream is exquisite. What a pity it isn’t illegal”
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