18 March 2010
Salamander Energy plc, the Asia focussed independent oil and gas exploration and production company, announces that it has agreed to acquire a 50% interest in and operatorship of Block 101-100/04 from Santos Vietnam Pty Ltd and Singapore Petroleum Vietnam Song Hong Co Ltd. Block 101-100/04 is located in the Hanoi Trough, Offshore Northern Vietnam, a basin which is at the early stages of exploration. The acquisition is subject to Vietnamese government and regulatory approval.
Key Points:
- Operated position in the Hanoi Trough – a new basin entry in Vietnam, a key region for Salamander
- Cat Ba oil prospect to be drilled in 2011
- Over 500 sq.km of existing 3D seismic
- Follow on drilling potential with at least three further prospects identified on the block to date
- As part of the farm-in agreement Salamander has offered the Block 101-100/04 field partners a Call option to retain their 50% interest on completion of the Cat Ba well
James Menzies, Chief Executive of Salamander, said:
“The Hanoi Trough is a proven but underexplored basin Offshore Northern Vietnam, part of a play system that extends east to the Beibu Wan fields. This deal introduces Salamander to a new play and broadens our prospect inventory and medium term drilling options.”
ENDS
Enquiries:
Salamander Energy plc
James Menzies, Chief Executive Officer
Geoff Callow, Head of Corporate Affairs |
020 7960 1580 |
Brunswick Group LLP
Patrick Handley
Fiona Mulcahy |
020 7404 5959 |
About Salamander Energy
Salamander Energy is a full-cycle, independent upstream oil & gas exploration and production company. The Company is Asia focussed and a member of the FTSE 250 index. Salamander has a balanced portfolio of production, development and exploration assets with interests located in Indonesia, Thailand, Vietnam, Lao PDR and the Philippines.
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