Ramba to sell stake in Lemang PSC in Sumatra to Risco for $157.5M

Ramba Energy Ltd.

Ramba Energy Ltd.’s board has signed a binding letter of offer with Risco Energy Investments Holding Pte. Ltd. (REI) to acquiare a 25% direct working interest in the Lemang production sharing contract (PSC) from Ramba’s Indonesian subsidiary, PT Hexindo Gemilang Jaya. The Lemang Block is located in the Riau and Jambi provinces of South Sumatra, Indonesia.

Under the terms of the offer letter, REI will pay a structured cash consideration of up to $157.5 million for the direct purchase of a 25% direct working interest in the Lemang PSC on a cash-free, debt-free equivalent basis, based on an effective date of Jan. 1.

 

 

 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...