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




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

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

3 times what hyleo prediction is now

GS has a buy recomendation on SMDR

hyleo and gang have 70p or less

gs are failed institution and corrupt so who cares what some pleb there thinks or spouts

hyleo shorts are burning on this one

surprised no comments on this!

poor hyleo is still on this with his shorts which are burning.......70p, lol.....more like 270p

Something happening here....sp going ballistic !.

hyleo is declared bankrupt! and thats just on smdr!

buy recomendation from broker plus a possibility of bid. Stock on loan traders have been forced to buy back at higher price and this has generated demand.
Shorters are getting their fingers burned.
Watch for more upside next week when another good rns is announced. Crude price is going up and this is helping the SP to move north.