LOS ANGELES, CA and JAKARTA, INDONESIA — (Marketwired) — 05/10/13 — PHI Group, Inc. (OTCQB: PHIL), (PINKSHEETS: PHIL), a company focused on energy and natural resources, announced today that the company has retained Agus Budiluhur as its senior managing geologist to manage its exploration and mining activities in Indonesia and other countries in South East Asia.
Holding a Masters Degree in Operation Management from the University of Indonesia and a Bachelors Degree in Geology from Bandung Institute of Technology, Indonesia, Agus has vast experience in exploration geology, mine operations and project management, resource and reserve modeling and estimation, pit designs, mine planning, and feasibility study and has held various management positions with major internationally listed mining companies including Rio Tinto, Barrick Gold, BHP Biliton and Noble Resources.
Agus will work closely with RungePincockMinarco to complete the technical due diligence for the PT Tambang Sekarsa Adadaya coal concessions that PHI Group has signed an agreement to acquire as well as manage other aspects of the company–s exploration and mining activities in Indonesia and Southeast Asia.
In another development, the company–s management and Indonesian legal counsel conducted a site visit of PT Harjo Mas Makmur–s currently producing coal mine and its physical assets including outcrops, mining pits, access road, weight bridge, crusher, conveyor system, jetty and operation facilities in East Kalimantan as part of the continued due diligence process in connection with the contemplated acquisition of this concession.
PHI Group CEO Henry Fahman will host a conference call for shareholders and investors at 04:30 P.M. EST on Tuesday, May 14, 2013. To participate in the conference call, dial +1-209-647-1000 and enter Conference ID 767368#.
Following a double-tracked energy strategy, PHI Group accumulates energy-related assets and other natural resources, develops power plants, and provides advanced renewable energy solutions. In addition, the company manages trading activity involving energy products, precious metals and other industrial commodities. Website: .
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995.
Henry Fahman
+1-702-475-5430