Ona Energy Inc. is a Canadian-based international energy company focused on the acquisition and development of power generation and oil & gas projects.
Power Plants
Ona has a 60% interest in the Yongxing Power Plant Corporation ("YPCC"), a comprehensive utilization of coal tailings power plant in the Hunan Province of China.
YPPC is a Sino-Foreign joint venture company constructing an environmentally friendly power plant in the Yongxing County, Hunan, China.
The first phase of YPPC power plant will be comprised of two (2) - 60MW units, the first of which is installed and expected to be generating electricity by the end of June 2008. The second unit is partially constructed and anticipated to be operational by June 2009.
Oil & Gas
Ona has an 80% interest in PT Muba Ona Oil, a foreign joint venture company incorporated in Indonesia with PT Petro Muba, an agency of the Musi Banyuasin, the local Government Regency that holds the rights for the management and rehabilitation of the abandoned old Dutch oil wells located within the Keluang, Karang Ringin, and Suban Baru oil fields.
Rights of the projects are governed under a Production Sharing Contract (PSC) administered by MIGAS. Under the PSC, Ona is entitled to 80% of the net profit of the Contractor's take, after expenses and taxes.
Management continues to actively evaluate additional resource prospects for acquisition by the Company.
