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Salamander seeks $200M for Asian play


Published Jul 16, 2008
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The board of Salamander Energy has proposed the company raise $200 million to pay for expanding operations at its Indonesian and Thai oilfields.

Salamander’s Gulf of Thailand and East Kalimantan have entered the development stage with planned new production in 2011. The company also intends to “deepen its portfolio” with area exploration and greater stakes in existing assets Glagah Kambuna, TAC and the Bontang PSC in Indonesia.

Some $75 million is sought for development, $65 million to accelerate and expand the company's exploration programme and $60 million for acquisitions.

Shareholders of the fast-growing Asia explorer will meet on August 8th to vote on the fundraising.

Tags: Salamander Energy



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