Salamander, PT Kutai Timur Nab New Indonesian Block
Salamander Energy announced that, along with its partner, PT Kutai Timur Resources, it has been awarded the South East Sangatta PSC, in the MIGAS 2008 direct proposal tender.
South East Sangatta is located in the Kutei basin, East Kalimantan and is immediately adjacent to and east of Salamander's operated Bontang PSC. It covers an area of 3,168 sq. km and there is a firm three year commitment for completion of a 3D seismic survey and drilling of one exploration well.
Salamander will hold a 49% operated interest and has the option to acquire an additional interest in the block. Kutai Timur Resources is a domestic Indonesian E&P company specialising in East Kalimantan.
James Menzies, Chief Executive of Salamander, commented, "The Kutei is one of the most prolific basins in Indonesia. With interests in three contiguous blocks across the Kutei basin, Salamander now has the leading exploration position in this highly prospective area. Being operator of two of these blocks provides technical and operational synergies, and we look forward to a four well drilling campaign in this basin over the coming year."
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