· Indika Energy through its subsidiary, Tripatra, has obtained a US$138.0mn contract from Pertagas to build an oil&gas construction run by the latter company.
· In addition Indika is currently participating in the US$3.15bn tender, which includes the US$1.0bn Exxon Mobil project in Cepu. However the value of the contract targeted by Indika is undisclosed.
· The company has not released its financial statements due to audit process, however it expects its half year target for coal sales volume of 14.5mn ton will be achieved.
· INDY is trading at 2011F consensus PER of 9.1x and EV/EBITDA of 31.0x.
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