Ramba Spuds Akatara-2 Well in Lemang PSC in South Sumatra

Ramba Energy Limited (Ramba or the Company), an Indonesia-focused oil and gas exploration company, referred Monday to the previous announcements released Dec. 28, 2012, May 6, 2013, and Aug. 28, 2013 with respect to its interest in the Lemang Production Sharing Contract (PSC) block (Lemang block) located in South Sumatra, Indonesia.

Commencement of Well Testing

The Board of Directors is pleased to announce that the Company has commenced well testing at the Akatara-2 appraisal well at the Lemang block at approximately 06:00 AM local time Jan. 22.

The objective of the current well testing is to further prove up the Akatara structure for potential additional hydrocarbon resources. This decision followed the Company’s initial discovery at the Akatara-2 well (which was announced Aug. 28, 2013) in which the Company had drilled to 7,090 feet measured depth (MD) (6,288 feet true vertical depth or TVD) and encountered potential reservoir layers.

The Akatara-2 well is the third well at the Lemang block drilled and tested by the Company, having successfully encountered hydrocarbon resources in previous exploration and appraisal drilling at the Lemang block.

The Company announced Dec. 28, 2012 the successful discovery at the Selong-1 exploration well, in which the Company encountered 222 feet of gross pay, with initial flow rates of 790 barrels of oil per day (bopd) and 16.8 million standard cubic feet of gas per day (MMscf/d).

The Company announced May 6, 2013 the successful discovery at the Akatara-1 exploration well, encountering 274 feet of gross pay, with initial flow rates of 11.0 MMscf/d and 380 barrels of condensate per day.

The Company is currently testing flow rates of the potential layers encountered in the initial appraisal drilling at the Akatara-2 well. The Company expects to take approximately 30 days in total to complete well testing.


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