Ramba completes cementing Selong-1 well casing

By Ruli Setiawan

SGX-listed Ramba Energy Limited (Ramba) announced that it had completed cementing the 7-inch casing of the Selong-1 well in Lemang Block, South Sumatra.

Following the analysis of mud logs from the Selong-1 well, in which the company penetrated the basement by approximately 280 feet, it has decided to deepen the Selong-1 well by approximately 300 feet, the company said in a press statement on Friday.

Additional drilling at the Selong-1 well is expected to begin on 2 December 2012, and will take approximately 7 days to complete. After that, the company will commence testing and analysis of the Selong-1 well. The testing and analysis is expected to take approximately 20 days to complete.

Ramba - through its local subsidiary, PT Hexindo Gemilang Jaya - holds a 51 percent working interest in the Lemang block.

Oil and gas exploration is an expensive, high-risk operation. Shareholders are therefore asked to exercise caution when dealing in shares of the company, and should consult their legal, financial tax and other professional advisers if they have any doubt as to the action to take.

The company will make further announcements to inform shareholders of any updates or developments on the Selong-1 well.

Editing by Benget Besalicto Tnb