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




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

Now 162p incredible..

Scottie thought it would go back to 300p.

Aye thats no surprise..lol..

What do ya say scotyboy..?

...

Invesco Ltd. said it has sold 51,000 shares of Salamander Energy Ltd. at 1.4911 pounds each, cutting its stake in it.

Not good. Now 134p.

125p still looks too dear for my liking as institutional selling has started to take place in Salamander.

~It will go to 70p.

125p still looks too dear for my liking as institutional selling has started to take place in Salamander.

~It will go to 70p.

What a disaster .

Good call, justyi.

Thanks...97p now

Ironic that scsw tipped this at 300p plus now look at it.. 30p more like.

Its all about the cost of production with the oil price below $70.

could this be the start of a bull run.

mitzy are you still shorting?

No not me halifax,

MISS IT. UP OVER 32P TODAY, DIRECTOR BUYING

80% rise in 2 days great.

Paper losses push Salamander into red - MoneyAM


Asia-focused oil and gas company Salamander Energy grew revenue 45% to $100.8m in 2008 but reported a post-tax loss of $66.5m after write-off and impairment charges, versus a $4.6m profit previously.

A pre-tax impairment of $55.0m is being charged against the group's Bualuang asset in the light of oil price expectations. The group has also taken an exploration write off of $39.1m from two unsuccessful wells.

Salamander ended the year with a cash balance of $103.0m and undrawn borrowings of $15.6m, which were subsequently drawn in early January.

CEO James Menzies said, '2008 was a year in which we materially increased our reserves and production base. Acquiring first oil from the Bualuang field was an important step for Salamander, as was picking up operatorship of the Kambuna project. Development drilling on these assets has led to substantial reserves additions for the Group.

'Our cash position and balance sheet, which was restructured ahead of the mid-year deterioration in the capital markets, means we are well placed to deliver our work programme, which will see further production and cash flow growth as well as exploration and appraisal drilling in Northeast Thailand, Gulf of Thailand and in East Kalimantan, Indonesia.'