Blue Dolphin Disposes Indonesian Interest to Blue Sky

Blue Dolphin Energy Company (OTCQX: BDCO) announced that they have disposed of their 7% percent  undivided working interest in the North Sumatra Basin – Langsa Field offshore Indonesia to Blue Sky Langsa, Limited.

As quoted in the press release:

Blue Sky’s consideration to BDEX for the Indonesian Interest was 150,000 shares of Blue Dolphin common stock, par value$0.01 per share .  BDEX acquired the Indonesian Interest from Blue Sky in June 2010 for 342,857 shares of Blue Dolphin Common Stock.  BDEX’s receipt of the 150,000 shares from Blue Sky represents the recovery of a significant portion of its original share consideration paid for the Indonesian Interest.

To view the whole press release, click  here.