Ramba Energy and Mandala Lemang Singapore have declared that SKKMIGAS approval has been received for the transfer of a 35% interest in the Lemang Production Sharing Contract (PSC) from Hexindo to Mandala and the transaction is now deemed to be completed.

Lemang has a relatively low operating and capital cost structure which is favourably positioned for development, even in the current oil price environment, and both Parties remain excited about progressing the Project through 2016 and bringing it into production.

Tags: Mandala Energy Limited, Ramba Energy Limited