FIELD ACTIVITIES / First Dynasty -- Indonesian Production
FIRST DYNASTY REPORTS OPERATIONS NORMAL AT INDONESIAN OILFIELD
SINGAPORE, May 20 /CNW/ - Marcus Randolph, President of First Dynasty
Mines, said today that the company's operations in Indonesia have not been
disrupted by widely reported civil disturbances.
He said that normal production is continuing at the Sembakung oilfield in
northern Kalimantan, which is about 1,400 kilometres northeast of the capital
of Jakarta. First Dynasty, through its wholly-owned subsidiary Energy Process
Services (EPS), owns 80% of Genindo EPS, which operates the Sembakung
oilfield.
''Although production at Sembakung has been unaffected by civil unrest,
we have taken the precaution of temporarily removing our expatriate employees
and their families from Jakarta.
However, until the political situation is stabilized, we are unlikely to
be able to complete the planned sale of our Indonesian oil company, Genindo
EPS. The expected closing date of the end of June may have to be postponed.''
First Dynasty's shares trade on the TSE under the symbol FDM and are
quoted in the U.S. on the NASDAQ National Market under the symbol FDYMF.
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For further information: Vancouver - Nina Tarmohamed, (604) 685-8382;
Singapore - Marcus Randolph, (65) 337-9028; www.firstdynasty.com
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