Geo Energy: Statement On Indonesia's New Plan To Centralise Control Of Commodity Exports
The Board of Directors (“Directors”) of Geo Energy Resources Limited (the “Company”, and together with its subsidiaries, the “Group”) (SGX:RE4) wishes to provide a statement in relation to recent media reports regarding Indonesia’s proposed plan to centralise control of commodity exports.
The Directors note that the Indonesian Government’s proposed centralisation of commodity export controls reflects a broader policy direction aimed at strengthening state oversight and improving coordination across key resource sectors in Indonesia.
While the initiative may enhance regulatory efficiency and support national revenue objectives over the longer term, further clarity is expected regarding the implementation framework, administrative processes, and documentation requirements.
The Directors believe that this transition period may take time to fully evolve and be implemented, as policies are refined and operationalised across the relevant agencies and industry stakeholders.
At this stage, the Company has not received any official communication or directive in relation to the matter and will continue to closely monitor developments, while engaging with the relevant authorities and stakeholders as appropriate. The Company will make further announcement on this matter if and when there are further developments.
The Group’s fundamentals remain strong. Our current production, logistics, customer relationships, and export activities continue as normal. We continue to make steady progress on our MBJ Integrated Infrastructure, with successful truck trials completed last week and on track to commence operations in the second half of 2026. Coal prices remain strong, with ICI4 at US$64.43 per tonne as of 22 May 2026. The Group will continue to execute its growth strategy and operational plans in a disciplined manner while remaining agile and responsive to evolving regulatory and policy developments.