KUALA LUMPUR (Sept 29): Globaltec Formation Bhd jumped 10% at mid-morning today after the company inked an MoU with Indonesian state-owned oil corporation PT Pertamina Gas to explore the supply of coal bed methane gas for distribution to consumers in Indonesia’s Sumatra island.

At 10.20am, Globaltec rose 0.5 sen to 5.5 sen with 3.17 million shares done.

Under the MoU, NuEnergy and Pertamina Gas have agreed to exchange information and to jointly evaluate the economic viability of CBM gas supply from Tanjung Enim Production Sharing Contract’s initial Plan of Development.