Black Platinum Energy Ltd. (BPE) is an Indonesian focused oil and gas exploration company formed in 2010 by private investors with a proven track record of success in Indonesia. The Company has raised over $100 mm from investors to undertake certain exploration activities over the next several years.
The Company has a balanced portfolio of six Production Sharing Contracts (PSC's) comprising of 5.5 mm gross acres in proven basins near existing infrastructure which provides access to export and domestic gas markets.
The Black Platinum Energy founders and executive directors began the process of developing the Company in 2008, with the acquisition of two Joint Study Agreements (“JSA’s”) with a certain group of investors, which were subsequently awarded two Production Sharing Contracts (“PSC’s”); the North Makassar and North Madura PSC’s in 2009 and 2010 respectively. In the two years since the acquisition of those JSA’s/PSC’s, BPE management also acquired several other assets, including the North Sokang and Titan JSA’s which were subsequently awarded PSC’s in November 2010. The ownership of all these related assets came under the sole control of the parent company, BPE, on 23 April 2010. Subsequently, the Company won a direct tender for the Sokang PSC in December 2010 and was awarded the North Ganal PSC in September of 2011.