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.
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
"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
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
