Ramba to conduct first drilling in Lemang Block

By Romel S. Gurky

SGX-listed Ramba Energy Limited said that it had planned to drill the Selong-1 well, which would be the first exploration well to be drilled at the Lemang block later this year, the company said in a press statement.

Ramba has 51 percent interest in Lemang block, which is located in the South Sumatra basin, one of the most favourable regions for oil and gas exploration in Indonesia.

In July 2011, Ramba?s stake in the Lemang block was valued at US$193.6 million by international petroleum consultancy, DeGoyler and MacNaughton (D&M). The block?s Akatara prospect, the focus of current drilling operations, was valued by D&M as containing 147.2 million barrels of oil (recoverable gross mean prospective resources not adjusted for the probability of geologic success (Pg) ).

The Pg adjusted gross mean prospective resources for Akatara is estimated at 37.4 million barrels of oil, representing a prospect Pg of 25.4 percent.

Access road and well pad constructions are already underway at the Selong-1 and Akatara-1 sites, both located in the block?s Akatara prospect.

Editing by Benget Besalicto Tnb.