Agreement (if applicable) (the “

and conditions of the Conditional Agreement.Ramba Energy Limited (the “Company” or “Ramba” andGroup”) is pleased to announce that Ramba hasConditional Agreement”) with Ellipse Energy Limited (“EEL”) and Ellipse Energy(“EEPL” and collectively referred to as “Ellipse”), to acquire:“EEJW”); a company incorporated in Singapore whichInterest”) in, and is the operator of,Jatirarangon”), and“EEW”), a company incorporated in Bermuda,(1) (S$14,001,300), subject to adjustments pursuant to the ConditionalPurchase Consideration”), and subject to the terms

Richland is on its way to becoming an oil & gas company following the completion of the first of a three-stage transaction which was first announced in Feb this year.

The company announced over the weekend that Broyland Capital Pte Ltd and some existing shareholders have completed the sale of a 70% stake in the company to Redmount Holdings Ltd for a consideration of $30.1 million or $0.338 per share. Redmount will now make a mandatory unconditional general cash offer for the remaining 30%. The Redmount consortium is made up of Indonesian interests, and comprises Utaryo Suwanto, Eka Sinto Kasih Tjia and Rudy Lim as well as Precious Treasure Global Inc, which is jointly owned by Edward Seky Soeryadjaya and Soetrisno Bachir.

With the share deal completed, RichLand will now proceed with the proposed purchase of a large stake in an Indonesian oil & gas company. RichLand had earlier signed a letter of intent to buy a controlling 75% stake in Elnusa TriStar Ramba Ltd (ETRL), for US$150 million. ETRL is a unit of TriStar Global Holdings Corp.