Ramba

Ramba: Commenced well testing at Akatara-2, the third well drilled at the Lemang block. Initial appraisal drilling at the well indicated potential reservoir layers and the group expects to take approximately 30 days to complete well testing. This isn’t the first discovery in the Lemang block. In May last year, it was announced that Akatara-1 well had initial flow rates of 11.0mmscfd (million standard cubic feet of gas per day) and 380 of condensate/day, and in December, the Selong-1 well recorded an initial flow of 790 bopd and 16.8mmscfd Ramba, through its local subsidiary, PT Hexindo Gemilang Jaya, holds a 51% working interest in the Lemang block. Ramba is currently trading at 3.2x