Mitra Investindo (MITI) has signed memorandum of understanding (MoU) for issuing convertible bonds, conducted by its subsidiary, PT Indelberg Oil Indonesia, to fund its oil and gas project, participating interest of Benakat Barat Petroleum. The Company has not mentioned yet the value of convertible bond. MITI will focus on oil business. Currently Benakat still suffers loss due to oil price fluctuation.