Salamander to Spud Tom Su Lua-1X Exploration Well

Source: www.gulfoilandgas.com 6/10/2010, Location: Asia

Salamander Energy plc, the Asia focussed independent oil and gas exploration and production company, announces the spud of the Tom Su Lua-1X (“DBSCL01-TSL-1X”) exploration well in Block DBSCL-01, in the Vinh Chau Graben system, offshore southern Vietnam. Salamander holds an operated 75% interest in Block DBSCL-01, which was the subject of a previously announced farm out arrangement between Salamander and Origin Energy in December 2009.

The DBSCL01-TSL-1X well will be drilled to a depth of approximately 1,400 metres and is targeting oil in the Eocene-Oligocene clastics as well as pre-Tertiary basement. The mean gross pre-drill estimate of prospective recoverable resource is c. 60 MMbo. The well will be drilled by the PVD-1 jack-up rig in a water depth of 15 metres. It is expected to take approximately 25 days to complete on a dry hole basis.

On completion of the DBSCL01-TSL-1X well the rig will move to the Salamander operated Block 31, immediately outboard of Block DBSCL-01, to drill the Tom Hum Xanh-1X (“THX-1X”) exploration well. The mean gross pre-drill resource estimate for THX-1X is c. 80 MMbo.

James Menzies, Chief Executive of Salamander, said:
“The Vinh Chau Graben is a virgin basin that is estimated to contain several hundred million barrels of prospective oil resources. Tom Su Lua-1X is the first in a series of wells that Salamander will operate in the basin in order to explore its oil potential.”


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