Company Star Phoenix Group

Star Phoenix Group Ltd is an Australia-based company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia. The Company is evaluating divestment opportunities of its existing portfolio to focus on new acquisitions and investments in other projects. The Company's operations include Trinidad Oilfield Services, and Indonesia Oil and Gas Project. The Company owns an oilfield services provider based in Trinidad (RRDSL). RRDSL has modern drilling rig fleets in the Caribbean with the capacity to drill onshore wells in Trinidad. The fleet comprises approximately seven onshore land rigs, five drilling and two production rigs and related equipment. The Company owns approximately 23% interest in the Perlak field located in the hydrocarbon province of Northern Sumatra and covers an area of approximately 10.4 square kilometers. The Perlak field drilled approximately 300 wells, with 250 of those put into production.