Salamander Energy signs new production sharing contracts in Indonesia

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.

"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