Baraka opens a representative office in Jakarta

Australian listed energy company Baraka Energy & Resources Ltd (BKP) said that the company has opened a representative office in Jakarta. The move was aimed at maximizing exposure and creating a closer relationship with various authorities and influential parties in order to assist in the acquisition or joint venture of quality projects.

Collin Vost, Baraka?s Managing Director, has recently returned from Jakarta after finalizing the necessary documentation.

The Baraka board believes Indonesia will be a resource powerhouse in years to come and generate substantial cash flow for the benefit of Baraka shareholders and the Baraka board are hopeful of announcing an initial project in due course.

Indonesia is the fourth most populated nation in the world, has a very high growth rate, and is the biggest thermal coal exporter in the world. Furthermore, Indonesia has a young and willing work force who are prepared to work hard at realistic costs. Geographically, Indonesia is close to Australia, China and India, all of whom are increasing their presence there.

Indonesia is also in the top six copper producers and is currently in transition of amending its mining laws to enable foreign investment and reduce corruption. This will provide a safer and more secure investment into all sorts of metals and minerals by genuine investors.

It will also allow Baraka to utilize the benefit of the current strong Australian dollar to establish itself in Indonesia. Baraka has some A$5.7m of cash and liquid assets currently uncommitted, extremely low overhead expenses, nil liabilities and is seeking investments and projects to add value to its shareholders shares. (romel)