| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: OIL & GAS PRODUCERS |
Salamander spuds Lao PDR well |
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Mon 22 Feb 2010
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LONDON (SHARECAST) - Asia-focused oil and gas exploration and production company Salamander Energy has started drilling on the Bang Nouan-1 exploration well in the Savannakhet PSC.
Salamander has an operated 30% stake in the Savannakhet PSC, which is in the Lao People’s Democratic Republic.
The Bang Nouan-1 well is targeting gas in the Permian limestones of the Pha Nok Khao formation, with preliminary expectations of finding recoverable gas resources of 1.1 trillion cubic feet (tcf).
Drilling is expected to take 75 days to complete.
‘It is a high risk, high reward well located in the under-explored Eastern Khorat basin that has multi-Tcf of follow on potential in the surrounding, Salamander operated, acreage,’ said James Menzies, chief executive of Salamander..
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