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




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

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.'

Latest operation update today is as far as I can understand is positive. MM has marked the SP down but if New York or crude oil price picks up, IMHO, SMDR should today be around 145-150. Any views?

mitzy says 30p, justyi says 70p.....haha what losers!

176p and rising in biggest bear market ever.

I dipped my toes today following yesterday's encouraging results. Very glad that I did - bought at 169p and they finished at 183p. That's a nice start!

mitzy shorting this to 30p......oops

justyi - 16 Oct 2008 13:22 - 61 of 77
125p still looks too dear for my liking as institutional selling has started to take place in Salamander.

~It will go to 70p.

hlyeo98 - 17 Oct 2008 12:56 - 63 of 77
Good call, justyi.

what a couple of muppets.............now well over 180p, these people must have put others of and lost them lots of money

long wait for 70p me thinks! lol