Wednesday, May 14, 2014
Ramba
Ramba: Net loss narrowed to $2.3m from a loss of $3.1m a year ago, while revenue slipped 2% to $17.4m due to lower logistics volume and lower gas production arising from natural decline.
Given the recent discoveries and positive test results at the Lemang block, the group will continue to work towards development of the Akatara-Selong cluster and subsequently commercial production.
As the Group still has oil and gas fields which are in the exploration phase, it can still expect to continue incurring high capital costs to fund the necessary exploration and future development activities. NAV of $0.169/sh.
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