Ramba conducts analysis of Selong-1 well
Tuesday, November 20 2012 - 01:27 AM WIB
SGX-listed Ramba Energy Ltd., said that its drilling of the Selong-1 exploration well in Lemang Block, South Sumatra, had reached a total depth of 6,430 feet, and had commenced logging and analysis.
Ramba holds 51 percent working interest in Lemang block through PT Hexindo Gemilang Jaya, its local subsidiary.
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 on the action to be taken, the company said in a press statement on Tuesday.
The company had started the drilling in the Selong-1 well since October 29th of 2012. It is located in the Lemang Block?s Akatara prospect, South Sumatra, and has a true vertical depth of 6,350 feet.
It is targeting the Intra Gumai Sand Formation, Upper Talangakar Formation, Lower Talangakar Formation and the Crystalline Basement.
The Company will make further announcements to inform shareholders of any updates or developments at the Lemang Block.
Editing by Benget Besalicto Tnb.