Aban Offshore Updates on Indonesian acquisition

With reference to the earlier announcement dated May 18, 2006 & May 30, 2006, regarding negotiation for acquisition of stake in Apexindo Pratama Duta Tbk, Indonesia, Aban Offshore Ltd has announced that negotiation for acquisition has been terminated. A copy of the Announcement in this regard made in Indonesia is as follows:

"In relation to the disclosure of information made by PT Medco Energi Internasional Tbk, ("Medco") dated August 11, 2006 regarding "MedcoEnergy Declines the Offering Letter to Purchase the Shares of PT Apexindo Pratama Duta Tbk.", we, Aban Offshore Ltd (formerly known as Aban Loyd Chiles Offshore Ltd) ("AOL"), hereby intend to confirm that the negotiation with Medco as well as Asian Opportunities Fund I and CLSA Ltd to acquire approximately 52.20% and 32.152% issued shares of PT Apexindo Pratama Duta Tbk. has been terminated."

Source : Equity Bulls

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