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




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

Tom Hum Xanh-1 spudded. That was certainly a quick turnaround. SMDR aren't hanging around. Surely one well will come up trumps - they can't all hold water!

UP yesterday down today. Being dragged down with FTSE.

Salamander Energy plc

1 July 2010
Spudding of Tom Hum Xanh-1X Exploration Well

Salamander Energy plc, the Asia focussed independent oil and gas exploration and production company, announces the spud of the Tom Hum Xanh-1X ("31-THX-1X") exploration well in Block 31, in the Vinh Chau Graben system, offshore southern Vietnam. Salamander holds an operated 35% interest in Block 31, which was the subject of a previously announced farm out arrangement between Salamander and Origin Energy in December 2009.

The 31-THX-1X well will be drilled to a depth of approximately 2,500 metres and is targeting oil in the Eocene-Oligocene clastics as well as pre-Tertiary basement in a horst block structure in the centre of the basin. The mean gross pre-drill estimate of prospective recoverable resource is c. 80 MMbo. The well will be drilled by the PVD-1 jack-up rig in a water depth of 18 metres. It is expected to take approximately 32 days to complete on a dry hole basis.

Golden egg IMHO

FTSE 100 all red today.

Go on Salamander my son up up and away.

Big well strike South East Asia in next 12 days get in now. Clubby in for 250,000

of course you are
who would ever doubt your word?

A gift for you office boy, get in now and you could move away from West of airport to a decent jewish area.

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