Salamander Energy, the FTSE 250 oil and gas producer, has begun drilling on the Bedug-1 exploration well in the Bontang production sharing contract, in which it has a 100 per cent operated interest.
The well will be drilled by the Ocean General semi-submersible rig to a depth of around 2,050 metres sub-sea and it targeting both gas and oil pay.
The well is located to the East of the Angklung-1 gas discovery and 4 km East and 500m up-dip of the recent South Kecapi-1 ST oil and gas discovery.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
NR
-
Cash in on the growth prospects of Europe's companiesOpinion Marcel Stötzel, co-portfolio manager of the Fidelity European Trust, selects three stocks
-
Is the AI boom another dotcom bubble?25 years on from the dotcom bubble bursting, is it time for investors to consider the sustainability of the AI boom in the stock market?
