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10 December 2012
Salamander Energy plc
("Salamander" or the "Company")
Spud of South Kecapi-1 DIR/DIRA Exploration Wells
Salamander announces the commencement of its exploration drilling programme in the North Kutei basin, East Kalimantan, Indonesia with the spudding of the South Kecapi-1 DIR and DIRA exploration wells in the Bontang PSC. Salamander has a 100% operated interest in the Bontang PSC.
The South Kecapi-1 DIR well will be drilled to a depth of approximately 2,450 metres total vertical depth sub sea ('TVDSS'). On completion it will then be sidetracked approximately 1.5 km to the west with the South Kecapi-1 DIRA being drilled to a depth of approximately 2,100 metres TVDSS. The South Kecapi-1 DIR/DIRA wells are targeting gas and oil pay in a series of stacked Pliocene - Upper Miocene sandstone reservoirs. The combined mean pre-drill estimate of prospective recoverable resources is approximately 275 Bcf and 20 MMbo.
The wells will be drilled by the Ocean General semi-submersible rig in a water depth of 388 metres. On completion of the South Kecapi-1 DIR/DIRA wells the rig will move to the South East Sangatta PSC to test the North Kendang prospect.
Salamander Energy + 44 (0)20 7432 2680
James Menzies, Chief Executive Officer
Geoff Callow, Head of Corporate Affairs
Brunswick Group +44 (0)20 7404 5959
Salamander Energy is an independent upstream oil and gas exploration and production company listed on the main market of the London Stock Exchange (Ticker: SMDR) and is a constituent of the FTSE 250 index. The Group is focused on growth assets in and around three core areas: Greater Bualuang, Gulf of Thailand; North Kutei, Indonesia; and Greater Kerendan, Indonesia. In each of these areas the Group has a material, operated position and a detailed understanding of the petroleum systems of the basin.
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