Thought it worth initiating forum coverage on Salamander, not least given the links with Soco. I can't confess to be an expert, other than what I have gleaned from public sources:

  • Asia-focused independent exploration and production company with 21 licences across Indonesia, Thailand, Vietnam, Lao PDR and the Philippines. Founded by James Menzies, Nick Cooper and Andrew Cochran in 2005. Listed on LSE in 2006.
  • According to website, Salamander entered 2009 producing in the region of 11,500 boepd and expects daily production to average between 15 and 17,000 boepd during 2009. By the end of 2009, Salamander will operate over 65% of its production.
  • Tried to buy Serica Energy last year in a hostile deal but pulled its £124 million all-share offer, blaming the global financial turmoil and falling oil prices. http://business.timesonline.co.uk/tol/business/markets/article4988615.ece
  • Ended 2008 with a net debt position of $54.0 million (cash and cash equivalents of $103.0 million, with outstanding borrowings of$157.0 million)
  • Recently boosted by good news at Bualang oil field, as discussed elsewhere on the Forums - http://www.stockopedia.com/news/announcement/SMDR/090511smdr000349.htm
  • Bounced back from January lows, up c. 70%

Looks rather interesting to me given the Asian focus and the operational momentum but I am sure there are wiser heads out there with views to share....

 

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