Ranhill Energy Signs PSC for the Citarum Block

Ranhill Energy has signed the Citarum PSC located in West Java Province in Indonesia. And, through its 60% equity interest in PT Bumi Parahyangan Ranhill Energy Citarum ("BPREC"), is working to commence drilling operations on the Jonggol prospect by June 2006. Located 15 km south of the Jatirarangon gas field, the Jonggol prospect has the same Jatibarang structure.

Gaffney, Cline and Associates, an international independent oil and gas reserves consultant has identified cumulative prospective resources of 150 to 342 million barrels of oil reserve in place. A fast track development is planned to achieve first production within 18 months of discovery.