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
-
Which UK region has the most in savings? Average savings by areaThe amount people have in their savings differs from region to region in the UK. How does your nest egg compare to those living nearby?
-
Doug and Mary Perkins: Specsavers’ clear-sighted foundersHelped by the deregulation of the sector in the 1980s and brilliant advertising, Mary Perkins and her husband Doug have taken Specsavers to the top of the optometry market
