Ramba starts exploration drilling at Lemang Block
Monday, February 4 2013 - 11:25 AM WIB
SGX-listed Ramba Energy Limited said that drilling of the Akatara-1 exploration well ? the second exploration well to be drilled at the Lemang Block in South Sumatraa ? was started on Sunday afternoon (3rd February 2013).
The Akatara-1 well will have a total depth of 7,600 feet true vertical depth, or 8,000 feet measured depth, the company said in a press statement on Monday.
The Akatara-1 well is targeting the Intra Gumai Sand Formation, Upper Talang Akar Formation, Lower Talang Akar Formation, and the Crystalline Basement.
The Company expects drilling operations to take approximately 26 days, with possibly an additional 25 days for testing and analysis.
The Company will make such further announcements to inform shareholders of any update or development at the Lemang production sharing contract.
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.
Editing by Benget Besalicto Tnb