Ramba starts exploration drilling in Lemang Block
Monday, October 29 2012 - 12:30 PM WIB
SGX-listed Ramba Energy Limited said that it had commenced drilling of the Selong-1 exploration well on Monday afternoon, October 29 of 2012.
The Selong-1 well 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 said in a press statement on Monday afternoon.
The Company expects drilling operations to take approximately 20 days, with possibly an additional 20 days for testing and analysis.
The Company will make such further announcements to inform shareholders of any updates or developments at the Lemang block.
It noted that oil and gas exploration was 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.