Ramba Energy Limited reported unaudited group earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenue of SGD 18,439,000 against SGD 16,018,000 a year ago. Group revenue was higher than the comparative first quarter of 2012. The increase was mainly attributable to the Chandra Asri logistics contract of SGD 3.4 million; however it was offset by lower oil and gas production of SGD 1.0 million. Loss before tax for the period was SGD 2,806,000 against SGD 3,237,000 a year ago. Loss for the period was SGD 3,195,000 against SGD 3,833,000 a year ago. Loss on attributable to owners of the company was SGD 3,112,000 or SGD 1.02 basic and diluted loss per share against SGD 3,492,000 or SGD 1.46 basic and diluted loss per share a year ago. Net cash used in operating activities was SGD 5,473,000 against net cash flows from operating activities of SGD 946,000 a year ago. Purchase of property, plant and equipment and oil and gas properties was SGD 122,000 against SGD 2,071,000 a year ago. Acquisition of intangible assets was SGD 8,000 against SGD 488,000 a year ago. Acquisition of exploration & evaluation assets was SGD 2,921,000 against SGD 2,818,000 a year ago.

Ramba Energy Limited has discovered at least 274 feet of gross pay at the Lemang block, located in Sumatra, Indonesia. Testing results from the Akatara-1 exploration well - the second well drilled by Ramba at the Lemang block - flowed up to 11.0 million standard cubic feet per day of gas and 380 barrels of condensate per day with a gravity of 60° API from the primary reservoir. The Akatara-1 well has been temporarily suspended as a discovery well on 27 April 2013 at approximately 3:00 a.m. pending further field development. Ramba drilled to a total depth of 6,400 feet in exploration drilling, encountering 15 potential reservoir layers. The discovery at the Akatara-1 is the second discovery by Ramba at the Lemang block, as, in December 2012, the Group encountered 222 feet of gross oil and natural gas pay at the Selong-1 exploration well. The successful discovery at the Akatara-1 well marks another step forward in Ramba's ambitious exploration program. The fact that still have multiple untested potential hydrocarbon bearing zones in both the Akatara-1 and Selong-1 wells shows the true potential of the Lemang block. In addition, will further explore other leads and prospects within the block and expect to be in a good position to appraise discoveries in the near future. With testing results from the Akatara-1 indicating a flow rate of approximately 2,385 barrels of oil equivalent per day, the combined testing results from both the Selong-1 and Akatara-1 wells stands at 6,235 BOEPD. Testing flow rates may increase as the Group is preparing to further test additional zones in the Akatara-1 and Selong-1 wells. Drilling is expected to take approximately 26 days with testing expected to take an additional 28 days. Discussions with the Indonesian Special Task Force for Upstream Oil and Gas Business Activities Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi and other relevant authorities from the Government of Indonesia are underway.

Ramba Energy Limited announced that the company has successfully drilled the Akatara-1 well to a total depth of 6,400 feet. The well confirmed the presence of hydrocarbons in the Selong - Akatara cluster, and likewise the Lemang block subsurface configuration understanding and its play concept. The Akatara-1 discovery well encounters 15 potential reservoir layers, with approximately 274 feet of gross pay. Well log and pressure gradient analysis confirmed the hydrocarbon discovery in this structure. Drill Stem Test results revealed 11 Million Standard Cubic Feet Per Day of gas and 380 Barrels of Condensate Per Day with 60° API gravity from the primary reservoir. The company will make preparations to drill the Akatara-2 appraisal well. Drilling is expected to take approximately 26 days with testing to take approximately 28 days.