Monday, February 18, 2008
Salamander Energy PLC, an independent upstream oil and gas exploration and production company focused on South East Asia, announces the spudding of the South Phu Horm 1 (SPH-1) appraisal well in Block L15/43, Khorat Basin, North East Thailand.
The SPH-1 location is approximately 3 km south of PH-5, the most southerly producing well on the Sinphuhorm* Gas Field. It is being drilled using the Ensign-16 rig and is targeting the Pha Nok Khao formation and is planned to TD at a depth of approximately 2,460 metres sub-sea.
The well will appraise the southerly extent of the Sinphuhorm Gas Field that is currently producing approximately 88 MMscfd. Salamander has a 9.5% interest in the EU1 and E5N production licences in which the current producing wells are located and a 27.2% interest in the surrounding L15/43 concession in which the SPH-1 well is located.
James Menzies, Chief Executive of Salamander, commented:
“The appraisal of the southerly extent of the Sinphuhorm Field has potential to provide material resource upside to Salamander. This represents the third well of a drilling campaign appraising five fields and discoveries this year. In addition we are planning on drilling at least a further six exploration wells during 2008.”
*The “Sinphuhorm Natural Gas Field” is the new name for the gas field previously known as “Phu Horm”. This was recently changed following a Royal Decree.
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