Risco is in the frame to acquire for US$157.5 million a 25% stake from Ramba Energy in the Lemang production sharing contract onshore Indonesia.
Risco has agreed to buy a 25% direct working interest in Lemang in Riau and Jambi provinces in South Sumatra from Ramba’s Indonesian subsidiary Hexindo Gemilang Jaya, which held a 51% stake.
Ramba and Risco now have a three-month exclusivity period during which the prospective buyer will complete due diligence and the companies will negotiate the main terms of the asset transfer agreement and potential amendments to the Lemang joint operating agreement.
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