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 Energy's main focus is the construction and operation of its 120 MW as a first phase with an expansion to 390 MW in multiphase development of a environmentally friendly desulfurization power plant in Yongxing County, in the Hunan province of China. The plant is classified as a comprehensive utilization of waste-to-energy power plant that will consume up to 75% of coal tailings as its main fuel and will comply with the latest guidelines of achieving very low NOx, SO2 and particulate matter (fly-ash) emissions, producing clean coal energy.
The first 60 MW unit is now installed and generating electricity and revenue for the Company. The second 60 MW unit is partially constructed and anticipated to be operational in mid 2009. The Company currently holds a 60% interest in this power plant.
In addition, Management continues to actively evaluate other power plant prospects for acquisition by the Company.
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.
