{
    "success": true,
    "data": {
        "id": 1538850,
        "msgid": "gcr-buys-ri-oil-stake-1447893297",
        "date": "1997-05-03 00:00:00",
        "title": "GCR buys RI oil stake",
        "author": null,
        "source": "REUTERS",
        "tags": null,
        "topic": null,
        "summary": "GCR buys RI oil stake LONDON (Reuter): Gulf Canada Resources Ltd (GCR) said yesterday it was buying a 12 percent stake in an Indonesian production-sharing contract from Seafield Resources Plc. The Gulf Canada acquisition is in the 3,500 sq km offshore Pangkah oil block off East Java. Gulf Canada will pay Seafield by funding both companies' share of this year's seismic and overhead costs and 24 percent of two exploration wells planned for next year.",
        "content": "<p>GCR buys RI oil stake<\/p>\n<p>LONDON (Reuter): Gulf Canada Resources Ltd (GCR) said<br>\nyesterday it was buying a 12 percent stake in an Indonesian<br>\nproduction-sharing contract from Seafield Resources Plc.<\/p>\n<p>The Gulf Canada acquisition is in the 3,500 sq km offshore<br>\nPangkah oil block off East Java.<\/p>\n<p>Gulf Canada will pay Seafield by funding both companies' share<br>\nof this year's seismic and overhead costs and 24 percent of two<br>\nexploration wells planned for next year. Gulf said in a statement<br>\nthat the total cost of the two wells is estimated at US$2.4<br>\nmillion net to Gulf.<\/p>\n<p>Upon completion of the acquisition -- subject to approval by<br>\nIndonesian state oil company Pertamina and the other partners --<br>\nSeafield's interest will be halved to 12 percent. The operator is<br>\nPremier Oil Plc with 40 percent while Amerada Hess Corp holds a<br>\n36 percent interest.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/gcr-buys-ri-oil-stake-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}