Salamander Energy plc announces the start of its multi-well exploration programme in Block G4/50, Gulf of Thailand. Salamander has a 100% operated interest in Block G4/50 which surrounds the B8/38 Production Licence (that contains the Bualuang oil field).
The Group plans to drill six exploration wells in G4/50 during 2013 with further exploration drilling to follow in 2014. Block G4/50 covers over 5,800 sq. km and contains five sub-basins, four of which have a proven oil source. Over 60 prospects have been mapped on 3D seismic containing mean prospective recoverable resources in the 20 MMbo – 150 MMbo range.
The first well in the programme, G4/50-4, spudded on 27th June and is being drilled on the Rayong prospect. Rayong is located in the north east of the block in the Central Kra sub-basin. G4/50-4 is targeting oil in Miocene sandstones and Permian Ratburi carbonates that are estimated to contain between 20 MMbo and 50 MMbo of prospective recoverable resource with the key risk being identified as access to hydrocarbon charge.
The G4/50-4 well will be drilled to approximately 2,000 metres total vertical depth sub-sea using the Atwood Mako jack up rig and is expected to take around 21 days to reach target depth. On completion of the G4/50-4 well the rig will move to drill the Surin prospect in the Central Western sub-basin.
+ 44 (0)20 7432 2680
James Menzies, Chief Executive Officer
Geoff Callow, Head of Corporate Affairs
+44 (0)20 7404 5959
Salamander Energy is an independent upstream oil and gas exploration and production company listed on the main market of the London Stock Exchange (Ticker: SMDR) and is a constituent of the FTSE 250 index. The Group is focused on growth assets in and around three core areas: Greater Bualuang, Gulf of Thailand; North Kutei, Indonesia; and Greater Kerendan, Indonesia. In each of these areas the Group has a material, operated position and a detailed understanding of the petroleum systems of the basin.