Ramba: says it will begin drilling 2 new pdtn wells, JRR-6 and JRR-7 in 2H11. The wells are expected to add at least 4 mmscfd in gas pdtn, vs total production at the Jatirarangon block of ~3.4 mmscfd of gas and 90 bopd. The tender process for the drilling is scheduled to begin over the next few weeks…
Indonesian state-owned gas distributor, PT Perusahaan Gas Negara (“PGN”) will also pay a one-time lump-sum payout of US$2.18m to support Ramba’s development work towards raising gas pdtn at the block.
Recall last wk, PGN agreed to pay US$4.332/mmbtu, or 70% more for gas from the Jatirarangon block wef 1 Apr ’11. The price will increase by a further 3 percent on an annual basis thereafter until 2014.
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