Release: Ranhill Bhd denies oil discovery
Monday, June 18 2007 - 07:36 AM WIB
18 June 2007--We refer to the article entitled "Ranhill Bhd strikes oil" appearing in The Star, StarBiz page 1 on Monday, 18 June 2007 and wish to deny the disclosure on the same.
In line with our announcement made on 15 May 2007 in connection with "Oil and Gas Exploration involving a 4,440 SQKM Block Located in West Java Province, Indonesia, known as "Citarum Block" – Pasundan – 1 Exploration Well – Drilling Commences", we wish to further clarify that the drilling operation is progressing as scheduled. Drilling has reached 6,769 feet but has yet to penetrate the primary reservoir target zone. No significant oil and gas shows have been encountered to-date.
The Company will update Bursa should there be any material information to be disclosed in accordance with the Listing Requirements. (end of release)