Salamander Energy Finds Gas in Indonesian Well


March 12 (Reuters) – Salamander Energy Plc said its West Kerendan-1 exploration well in Indonesia successfully tested for gas from the Upper Berai reservoir and that it would focus on commercializing the discovery after completing tests.

The oil and gas producer, whose interests primarily are in Southeast Asia, said it would hold talks with Indonesian authorities on including the West Kerendan discovery in the Kerendan field plan of development.

The enlarged field development would then become a source of incremental gas sales to the gas-fired power plant that was being constructed near the Kerendan field, Salamander said.

Within the upper gas column, the well has been independently verified to contain recoverable gas in the range 133 billion cubic feet (bcf) to 682 bcf with a mid-case assessment of 313 bcf, Salamander said.

The company also estimated an additional 50 bcf of recoverable gas from the lower gas column.

Salamander's shares were up 4 percent at 104.3 pence at 0810 GMT on the London Stock Exchange on Wednesday.

Copyright 2016 Thomson Reuters. Click for Restrictions.


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