Drilling for oil/gas in S Asia 2008 could be year for increased production.




http://www.salamander-energy.com/

Where's the big strike you've mentioned, Clubby???


23 July 2010

Salamander Energy plc

Tom Hum Xanh-1X Exploration Well Plugged and Abandoned

Salamander Energy plc, the Asia focussed independent oil and gas exploration and production company, announces that it has plugged and abandoned the Tom Hum Xanh-1X ("31-THX-1X") exploration well in Block 31, in the Vinh Chau Graben system, offshore southern Vietnam.

The 31-THX-1X well has been drilled to a total true vertical depth subsea of 2,103 metres without encountering significant hydrocarbons in the target reservoir sections. Following the completion of wire-line logging operations, the well has been plugged and abandoned as a dry hole and the rig is currently being towed off location. Salamander entered into a farm out agreement with Origin Energy, announced in December 2009, which resulted in the Company retaining an operated 35% interest in the Block 31 PSC.

James Menzies, Chief Executive of Salamander, said:
"With an intensive exploration programme we expect some dry holes. Nevertheless we are disappointed that drilling in this frontier basin has not offered more encouragement. Salamander's drilling campaign will be moving on to the proven Kutei basin, offshore East Kalimantan, Indonesia."

Minor hicup next well is proven will hang in there tabby has given me hope

oh i'm sure our pet mountebank bought swathes of these, but just won't tell us

============

ah there he is .....

tell us Tosspot, how many of these little gems do you hold?

SP only down 2% on this news

More than your house is worth jewboy

so tell how many shares you bought then?

bet Tosspot won't, or if he does, it almost certainly won't be the truth, for he doesn't know what that is

Rising now, only 0.98% down this morning on dry hole news

Not bad rise for a Company with a dry well. Maybe office boy clinic will reply

i confess to being amazed, but not remotely tempted by this stock
mind you, FOGL performed strangely strongly after their duster, but is now fluttering back to earth

Salamander Energy do not do CFD's in 1p lots so you can't

And that is two dry wells in a month.

Read Shares Mag this week Vol 12 Page 12

Clubby has inside info

Salamander Energy (SMDR) 225.7p Loss to date: 9.4%
Shares in the South East Asia focused oil firm have slipped after last month's disappointing
drilling result from its Tom Su Lua exploration well offshore Southern
Vietnam (29 Jun). Investors should keep buying, as the group is drilling two further
potentially high impact wells this quarter on the Tom Hum Xanh-1 prospect,
also offshore Vietnam, and the Anklung prospect in Thailand. Elsewhere the group
announced this week (20 Jul) that it is acquiring Soco International's (SIA) 40% interest
in the Bualang oil field for $105 million. Salamander currently owns 60% of the
field and is the operator. This deal underpins our case that the company, while offering
exposure to high risk, high reward drilling, is not a blue sky explorer. The group has
core producing reserves and is therefore not purely a binary bet on the outcome of the
notoriously risky process of exploring for hydrocarbons. (TS)
RBS S&P 500 Call Covered Warrant (RD87) 7.8p Loss: 13.4%

don't be more of an ass than you can help!

though i read Shares Mag, i am far from convinced that they have a good success rate with their recommendations

you may have an inside line - inside leg of the chairman's pa perhaps? - but no company intentionally drills a dud, but no one but no one ever knows quite what their drill result is going to throw up

But if you drill enough holes and one comes up big whooooooooooooosh and Salamander have around 23 online for 2010 I got 250,000 invested in actual shares. Not CFD's, or DVD's, why do you not buy actual stock, maybe can't afford them so use pisspoor CFD's way.

oh of course you have!
you always tell the truth, as proved 150% just yesterday, and only ever buy in lots of 250k, and never use derivatives because ......

You will kick yourself when they spud the next winners. SP will be up around 60 to 120% Don't say Clubby never gave you a winner.

Come on SMDR up 5 points Clubby makes a grand for every point

you did indeed with AU for which i thanked you and willingly do so again

when a minnow oily makes a strike, of course there's a surge, but 90% of the time, there's still plenty to go for thereafter

Short Autonomy before stress test results. IMHO when results are in after EU markets close will send USA down and will hurt FTSE and Autonomy on Monday.

This time Cynic I want a bung from you.

Board are hiding some postive info, watch them buy in more stock before indonesia spud.