Salamander reports successful appraisal
Oil and gas producer Salamander Energy has reported the successful appraisal of Block L27/43 at the Dong Mun discovery, onshore Northeast Thailand.
Oil and gas producer Salamander Energy has reported the successful appraisal of Block L27/43 at the Dong Mun discovery, onshore Northeast Thailand.
The group, which has a 27.2% non-operated interest in the block, said the well was flow tested at a rate of 15.1m standard cubic feet per day.
Work is ongoing to determine resource potential as well as the productive capacity of the reservoir through additional stimulation, the firm said, adding that alongside its partners it believes the flow rate and pressure data from the DM-3ST well, together with the 3D seismic data, point to a commercial gas accumulation in the block.
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 operator is now preparing to file for commerciality with the Thai Department of Minerals & Fuels.
"The DM-3ST result is very encouraging and taken together with the Dong Mun-1 discovery well and recently acquired 3D seismic data, indicate a commercially viable development project," Chief Executive Officer James Menzies said.
Shares were up 1.2% at 250p in early trading.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoid
A couple faces a substantial stamp duty bill after trying to reduce the amount they owed
-
How to get a guaranteed income in retirement
Savers want certainty in retirement, with almost two-fifths naming guaranteed income as their main priority. An annuity can achieve this – but what other income options are available to supplement it?