Salamander Energy, the upstream oil and gas company focused on Thailand and Indonesia, has announced a successful appraisal of the Tutung gas-condensate discovery in Indonesia.
The firm drilled the Tutung Alpha-3 (TA-3) well to a depth of 3,351 metres and found stacked sequences of deltaic sandstones in the target section. These sandstone intervals were evaluated using logging while drilling log data and wire-line pressure testing and gas and fluid sampling. Sandstones within the target formation were found to be gas-bearing, and individual units of up to 15 metres gross thickness were encountered.
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
The TA-3 well is currently being suspended, while work continues on the submission of a development plan for the Tutung gas-condensate accumulation, which will incorporate the TA-3 well results.
JH
-
Jeremy Hunt: Tech and defence will make Britain great again - investors should stay or risk missing outFor investors shifting away from the UK, tech and defence may well be opportunities worth staying for, the former chancellor Jeremy Hunt says.
-
Can the House of Lords change the government’s mind on controversial inheritance tax reforms?The House of Lords has launched an inquiry into inheritance tax changes on pensions and agricultural property relief - can the government’s plans be stopped?
