UK investor to explore oil and gas possibilities in Laos

Salamander Energy negotiating for license in Laos

A newly listed company on the London Stock Exchange is in final negotiations for what will be the first oil and gas license in Laos since 1998. Salamander Energy says it has received approval in principle from the Laotian government for a 31,000 sq km Production Sharing Contract (PSC) covering the Vientiane and Savannakhet blocks. If awarded, a 2D seismic survey is planned over both blocks in 2007 with possible exploration drilling to take place in 2008... more info

The majority of the Vientiane block was previously licensed by Monument Oil & Gas under the 37,250 sq km SDC Contract Area. Monument drilled Laos's only exploration well on the acreage in 1998, Naxay 1ST which was plugged and abandoned at a depth of 650m without having reached its primary objective. The last geophysical activity in the country was in 1996 when Monument acquired a 75km dynamite/vibroseis survey in the Vientiane region. UK-based Salamander focuses its operations in South East Asia, primarily Indonesia and Thailand. The company owns 27.2% of APICO, which in turn has a 35% interest in Phu Horm field, an onshore Thai field recently brought onstream by Hess. Salamander's working interest production rate has risen to about 6,600 boe/d in two years time. The company employs about two dozen and has offices in Singapore, Jakarta and London.

SOurce: energy.ihs.com