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Wednesday, February 20, 2013

REFILE-Indonesia stops Pertamina from buying Harvest Natural's Venezuela ops, (NYSE: HNR)

Oil and natural gas producer Harvest Natural Resources Inc said its planned $725 million sale of its Venezuelan operations to Indonesia's state-owned oil company has been scrapped by the Government of Indonesia.The company said last June that it would sell its 32 percent stake in Petrodelta SA in Venezuela to PT Pertamina, Indonesia's national oil company."Harvest remains committed to exploring all possible alternatives to unlock the potential of our assets and to maximize value for our shareholders," Chief Executive James Edmiston said on Wednesday.

Harvest Natural Resources, Inc. is a petroleum exploration and production company. Shares of HNR remained unchanged at $9.16. In the past year, the shares have traded as low as $4.85 and as high as $10.83. On average, 340834 shares of HNR exchange hands on a given day and today's volume is recorded at 1000.