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 020 7960 1580
James Menzies, Chief Executive Officer
Geoff Callow, Head of Corporate Affairs
Brunswick Group LLP 020 7404 5959
Patrick Handley
Fiona Mulcahy
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.