Businessweek

ONA Energy, Inc. operates as an energy company that focuses on the acquisition and development of power generation projects, and oil and gas projects. The company focuses on the construction of a power plant in Yongxing, China. The company also holds three oil prospects in Indonesia. The company is in the exploration stage of developing its oil and gas properties. Properties Yongxing Power Plant Project, China: The company owns 60% equity interest in the Yongxing Power Plant Corporation (YPPC), a Sino-Foreign Joint Venture. YPPC holds the right to construct a coal-fired power plant in Yongxing County, Hunan Province, China capable of producing approximately 240 Mega-Watts of power. Dutch Oil Wells Project, Indonesia: The Dutch Oil Wells Project is made up of three oil fields called Keluang, Karang Ringin, and Suban Baru fields and is located in South Sumatra, Indonesia. The company acquired an interest in a joint venture agreement to rework and develop these fields. The projects are held in PT. Muba Ona Oil, the company’s 80% held Foreign Investment Company in Indonesia, which is a joint venture with P.T. Petro Muba (PTPM), an agency of the Musi Banyuasin (MUBA) Local Government Regency. Power Plant Project - North Sumatra, Indonesia: The company holds a 51% interest in a joint venture to construct and own a coal fired power plant in Medan, North Sumatra, Indonesia. History The company was incorporated in 1998. It was formerly known as ONA Exploration, Inc. and changed its name to ONA Energy, Inc. in 2007.