Salamander Energy has signed production sharing contracts for the Northeast Bangkanai and West Bangkanai licence areas onshore central Kalimantan, Indonesia.
The company is the operator of both contracts, with a 100% working interest in each.
Both contracts cover an area of around 5,500 km squared within the Salamander-operated Bangkanai contract containing the Kerendan gas field development.
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"These new production sharing contracts increase the group's position in one of its core areas and represent a large tract of additional acreage that will provide further growth opportunities around the Kerendan gas field," Salamander said.
The share price rose 1.28% to 190.50p by 10:25 Thursday.
NR
