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Salamander slips before big Bualuang flows


Published Aug 28, 2008
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Thai offshore

The share price of U.K.-based Salamander Energy slipped Thursday on news the first production of crude oil was not the anticipated torrent from the main field at the company’s Bualuang acreage offshore Thailand.

The Block B8/38 oilfield produced after hook-up of one well to the Rubicon Vantage production vessel.

The company confirmed the B5 well was test production ahead of other production wells coming on-stream “over the coming days”.

More development drilling, however, is planned for 2009 “to accelerate the exploitation of the main field” and to test three other field zones. Oil from Bualuang will be processed and stored in the Rubicon Vantage FPSO vessel prior to onward sale.

Tags: Salamander Energy




   

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