THE following companies released material announcements either after
Friday's close or before the start of trading on Monday morning.
Mandala Energy will invest up to US$179.6 million in a 35 per cent stake in the Lemang Production Sharing Contract (Lemang PSC) from Ramba Energy's subsidiary, PT Hexindo Gemilang Jaya.
Ramba Energy is an Indonesia-focused oil & gas exploration and
production company. The Lemang block is located in the northernmost part
of the South Sumatra basin, a proven region for oil and gas production.
The sum includes an upfront cash payment of US$26.25 million,
sliding-scale future contingent payments based on certification of oil
& gas reserves, partial carry for Ramba's share of three exploration
wells; and a cash payment upon declaration of the first new exploration
discovery.
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