KS Energy subsidiary incorporates PT JSR

Principal activity is the provision of support services to the oil and gas industry.

KS Energy Limited announced that its 80% owned subsidiary KS Drilling Pte Ltd has incorporated PT. Java Star Rig jointly with PT KS Drilling Indonesia.

PT JSR is incorporated in the Republic of Indonesia with an initial issued and paid up share capital of US$1 million divided into 1 million shares.

KSDR, PT KSDRI, and an unrelated third party hold 95%, 4.9%, and 0.1% of shares respectively in the issued and paid up capital of PT JSR, making PT JSR a 95% subsidiary of KSDR.

PT KSDRI is a 49% associate of KSDR with the remaining 51% of its issued and paid up capital owned by PT. Citra Agramasinti Nusantara.

The principal activity of PT JSR is the provision of support services to the oil and gas industry, including the buying, selling, owning & chartering onshore and offshore rigs and associated equipment.

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