Salamander Energy announced it has abandoned a well off the coast of Thailand after concluding it wasn't good enough to be commercialised.
The independent upstream oil and gas exploration firm said the sand-rich section of its NW-1 well had led to leakage.
This means the well in the Gulf of Thailand is to be plugged and abandoned as a sub-commercial oil discovery.
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James Menzies, Chief Executive, said although it was a relatively small target, the NW-1 exploration result was disappointing.
Shares were off 2.8% in initial trading following the announcement.
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