Ramba announces discovery at the Lemang Block
Saturday, December 29 2012 - 01:29 AM WIB
Ramba Energy Limited (Ramba), an oil and gas exploration and production company with interests in Indonesia, has discovered 222 feet of gross pay at the Lemang Block in Sumatra.
Testing results from the Selong-1 exploration well ? the first well drilled by Ramba at the Lemang Block ? flowed up to 790 barrels of oil per day (bopd) from a depth of 5,375-5,385 feet in the Lower Talang Akar formation and up to 16.8 million standard cubic feet per day (mmscfd) at a depth of 4,735-4,751 feet from the upper Talang Akar formation, the company announced on Friday.
?The discovery at the Lemang Block marks a major milestone for Ramba, one that we expect to transform our business. With testing results from the Selong-1 well delivering up to 3,500 barrels of oil equivalent per day, we believe this increases the probability of success for the Akatara-1 well,? Ramba CEO David Aditya Soeryadjaya said.
He added that the positive result would also increase their confidence in the commercial potential of the Selong and Akatara prospects, and the overall potential of the Lemang Block.
The Selong-1 well has been temporarily suspended as a discovery well on 27th December 2012 pending further field development. More tests and possibly additional zones may be tested in the future. Ramba drilled to a total depth of 6,600 feet in the wildcat well.
Ramba?s second scheduled exploration well is the Akatara-1, which is expected to complete in early 2013. Excluding mobilization, drilling is expected to take approximately 26 days, with possibly an additional 25 days for testing and analysis.
With a total area of 2,580 square kilometers, the Lemang PSC is located in the South Sumatra basin, Riau and Jambi provinces, a region with one of the highest technical success rates for oil and gas exploration.
Ramba ? through its local subsidiary, PT Hexindo Gemilang Jaya ? holds a 51 percent working interest in the Lemang Block. In 2009, the Group purchased a 41 percent working interest in the block, which was approved and completed on 22nd November 2010.
Editing by Benget Besalicto Tnb.