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Salamander slides into profit


Published Mar 27, 2008
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Thai offshore

E&P outfit Salamander Energy has posted its first profit since listing on a London index in November 2006.

The company on Thursday posted a profit for 2007 of $4.6 million, up from a $20 million loss for 2006 on 77 percent more production and better prices.

Management is targeting 9,000 barrels of oil equivalent per day by year-end 2008, up from 7,820 boepd at the New Year on expectations from Indonesia’s North Sumatra basin.

For 2009, 15,000 boepd is hoped for after the start-up this year of the Bualuang oilfield in Block B8/38 in the Gulf of Thailand, and next year’s production from the Kambuna gas field.

The company plans 14 exploration and appraisal wells over the next 18 months

Tags: Salamander Energy




   

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