FTSE 250 oil and gas group Salamander Energy has announced the spudding of the Bualaung B8/38-8 (NW-1) well, making the start of its exploration campaign in the Greater Bualuang area, offshore Gulf of Thailand.
The well is testing one of a number of fault terraces to the north west of the Bualuang oil field. Salamander has identified a resource potential of 10-15m barrels of oil (MMbo) in a cluster of prospects to the north of the field.
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
-
High earners underestimate how much they need to retire comfortablyHigh net worth individuals grossly misjudge how much money they need for a comfortable retirement, new data shows, with many not saving enough.
-
Retired banker who gave wife £80m to avoid inheritance tax won’t face equal split in divorceFamily lawyers say the Supreme Court ruling will have significant impact on high net worth divorce cases
