PHI Group, Inc. (OTCPK:PHIE) signed a letter of intent to acquire operation and production license in Kabupaten Sarolangun, Jambi Province from PT. CSP on January 11, 2012. PT. CSP and PHI Group will enter a definitive agreement to fix the price, terms and conditions of the transaction within the month of February 2012 or soon thereafter.

PHI Group, Inc. (OTCPK:PHIE) cancelled the acquisition of operation and production license in Kabupaten Sarolangun, Jambi Province from PT. CSP on January 11, 2013.