Salamander Energy has provided the following production update.
Bualuang Field Performance & Group Forecast Production Upgrade
Following first oil from the Salamander-operated Bualuang field, on August 27, 2008, all five production wells have now been brought on-stream successfully. The field has been producing at maximum rates of over 17,000 barrels of oil per day. Salamander’s strategy going forward is to choke back production to maintain reservoir pressure in order to maximize recoverable reserves over the life of the field.
As a result of the positive field performance to-date, and expected field production rates for the remainder of the year, Salamander is upgrading the net forecast 2008 average Group production rate from 9,000 boepd to 10,000 boepd.
Salamander has a 60% operated interest in the Bualuang field.
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