Aban: Apexindo Talks Off with Medco



In a statement filed on Friday with the Bombay Stock Exchange, Aban Offshore Ltd said that negotiations related to its proposed acquisition of a stake in Indonesian drilling contractor Apexindo Pratama Duta Tbk have been terminated.

Aban's statement follows:

"In relation to the disclosure of information made by PT Medco Energi Internasional Tbk, dated August 11, 2006 regarding "MedcoEnergy Declines the Offering Letter to Purchase the Shares of PT Apexindo Pratama Duta Tbk.", we, Aban Offshore Ltd (formerly known as Aban Loyd Chiles Offshore Ltd) ("AOL"), hereby intend to confirm that the negotiation with Medco as well as Asian Opportunities Fund I and CLSA Ltd to acquire approximately 52.20% and 32.152% issued shares of PT Apexindo Pratama Duta Tbk. has been terminated."

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