Singapore firm terminates Ramba acquisition plan
Friday, July 3 2009 - 09:20 AM WIB
Singapore Exchange-listed firm Ramba Energy Limited (formerly Richland Group Limited) announced on Friday it had terminated deal to acquire 75% stake in Elnusa Tristar Ramba Limited (ETRL).
The company said the deal was automatically terminated after the extension time of June 30 2009 has lapsed.
ELTR has 60 percent interest in Ramba TAC, an oil producing block located onshore South Sumatra.
The company said it was in discussion with other parties to acquire other oil and gas assets. (alex)