Brief: Ramba Energy enters agreement to farm-out 20 pct participating interest in Lemang contract

Eneco Energy

05/10/2015 24:47

Oct 5 (Reuters) - Ramba Energy Ltd  RAMB.SI : 
 * Proposed transaction with back-to-back agreement to farm-out a net 20 pct  
   participating interest in the lemang production sharing contract 
 * Says Hexindo has on 4 October 2015, entered into a back-to-back agreement 
   with eastwin global investments limited 
 * Hexindo, has on 4 October 2015, entered into a joint operating agreement with 
   eastwin and mandala 
 * Pursuant to joa all 3 parties tonew joa shall define respective rights and 
   obligations to petroleum operations conducted under Lemang Psc 
 * Says aggregate consideration for the proposed transaction is up to US$102.6 
   million 
 * Net proceeds from proposed transaction is approximately s$11.5 million 
 * Says in the event the consideration were to be fully received, the net gain 
   from this proposed transaction will be about US$74.4 million 
 * Source text (http://bit.ly/1ORAA2o) 
 
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