Executive Summary
Salamander Energy (LON:SMDR) is an oil and gas exploration and production company, with offices in London, Singapore, Jakarta, Ho Chi Minh City, Bangkok and Lao PDR. Formed in 2005, the company currently operates 21 licences in South East Asia. Salamander Energy's Bualaung oil field in the Gulf of Thailand started to produce oil in 2008, and its Kambuna gas field in Indonesia is at an advanced stage of development. The company employs approximately 200 people across its international offices. It achieved a revenue of $77.2m, and a post tax profit of $2.0m in 2009.
Company History
- March 2005: Salamander founded by James Menzies, Nick Cooper and Andrew Cochran
- December 2006: Initial Public Offering on official list of London Stock Exchange
- June 2007: Signed first licence in Vietnam - Cuu Long River Delta Block-01 PSC
- March 2008: Acquisition of GFI Oil and Gas completed
- August 2008: Production commences from Bualuang oil field, Gulf of Thailand
- August 2008: $200 million placing and open offer completed
- August 2008: Acquired an extra 15% and operatorship of the Glagah-Kambuna TAC, Indonesia from Serica
- November 2008: Abandoned hostile transaction to acquire Serica
Current Events
- July 2009: Phu Kheng-1 well spudded in Thailand, targetting 1TCF , 40 day well [1]
Business Model
Salamander is the largest independent Asian oil and gas E&P company with offices in London, Singapore, Jakarta, Bangkok, Ho Chi Minh City and Lao PDR.
Production/Operations
- Indonesia - Salamander has established a core operating base in Indonesia centred around three main areas: South East Sumatra/Offshore North West Java, Offshore North Sumatra and East Kalimantan.
- It has a 5% interest in the SES and ONWJ PSC's are operated by CNOOC and BP respectively.
- In North Sumatra, it has a 50% operated interest in the Glagah-Kambuna TAC that contains the Kambuna gas condensate field.
- In East Kalimantan, it holds the leading independent exploration position in the prolific Kutei basin. This is comprised of a 70% operated interest in the Bontang PSC, a 49% operated interest in the South East Sangatta PSC and a 23.4% interest in the Kutai PSC.
- It also holds interests in two licences in the Tarakan Basin, a 21% interest in the Simenggaris JOB and a 25% interest in the Bengara-1 PSC.
- Thailand - Salamander has a 60% operated interest in the Bualuang oil field, Gulf of Thailand and…
