Ramba Energy in talks for potential investment into drilling operations and a farm-out

SINGAPORE - Mainboard-listed Ramba Energy said on Wednesday, in response to a Singapore Exchange query, that it is in talks with an unidentified "party" for a potential investment into its drilling operations at its West Jambi block in Sumatra, Indonesia.

Separately, its Board is also in discussion with other parties for a potential farming-out of part of the company's working interest in the Lemang Production Sharing Contract, held via its Indonesian subsidiary PT Hexindo Gemilang Jaya, said Ramba.

It said the talks remain ongoing and no binding agreement has been reached.

"As such, there is no assurance that any transaction will actually materialize," it said in response to the SGX query on the trading of its shares on Tuesday.

It advised shareholders to refrain from taking any action in respect of their shares in the company which may be prejudicial to their interests, and to exercise caution when dealing in the shares.

Ramba shares jumped 13.5 per cent to 42 cents on Tuesday, with more than 22 million shares changing hands.