Ramba secures approval to acquire stake at Sumatra block

Singapore Exchange-listed oil, gas firm Ramba Energy Limited announced on Friday that it has secured approval from upstream oil, gas authority BPMIGAS to acquire 41% working interest at Lemang PSC block onshore Sumatra from PT Indelberg Indonesia.

With the conclusion of the transfer of 41% of the participating interest in the PSC, the company will be able to commence and undertake the activities envisaged in its work program under the PSC. These activities include geological and geophysical studies, 2D and 3D seismic acquisition and processing, drilling of exploration wells, together with other exploration operations activities to be implemented on the Lemang Block, the company said.

Ramba announced on 6 October 2009 that it has entered into a Conditional Agreement with Indelberg to acquire 41% of the total participating interest in Lemang. The acquisition was subject to the approval of BPMIGAS. (alex)