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Ramba Energy Receives US$179.6 Million Investment From Mandala Energy
Daily Bulletin | 05 October 2015
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Ramba Energy has announced that Mandala Energy will farm in to a 35 percent participating interest in the Lemang Production Sharing Contract (Lemang PSC) from Ramba’s subsidiary PT Hexindo Gemilang Jaya.

Mandala Energy, backed by leading global investment firm KKR, will invest up to US$179.6 million consisting of an upfront cash payment of US$26.25 million; sliding-scale future contingent payments based on certification of oil and gas reserves; partial carry of Ramba’s share of 3 exploration wells; and a cash payment upon declaration of the first new exploration discovery.

Under another concurrent agreement, Hexindo shall acquire 15 percent of Lemang PSC from Eastwin (which currently owns 49 percent participating interest in Lemang PSC) such that the net effect would result in Mandala, Hexindo and Eastwin holding 35 percent, 31 percent and 34 percent interest respectively in Lemang PSC.

The transaction provides an opportunity for Ramba to realize value from its investment in Lemang, and enter into a partnership which combines its local operating strengths with the technical and financial capabilities of Mandala Energy.

Eneco Energy  -- -- --   
Business: Co is engaged in oil & gas exploration & production in Indonesia as well as in the logistics business. [FY17 Turnover] Logistics (92.2%), rental (2%), oil & gas (5.8%).

Insight: Aug-18, 1H18 revenue declined 12.4% to $26m mainly... Read More


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