Salamander Energy plc, the Asia focussed independent oil and gas exploration and production company, announces that it has plugged and abandoned the Tom Hum Xanh-1X (“31-THX-1X”) exploration well in Block 31, in the Vinh Chau Graben system, offshore southern Vietnam.
The 31-THX-1X well has been drilled to a total true vertical depth subsea of 2,103 metres without encountering significant hydrocarbons in the target reservoir sections. Following the completion of wireline logging operations, the well has been plugged and abandoned as a dry hole and the rig is currently being towed off location. Salamander entered into a farm out agreement with Origin Energy, announced in December 2009, which resulted in the Company retaining an operated 35% interest in the Block 31 PSC.
James Menzies, Chief Executive of Salamander, said:
“With an intensive exploration programme we expect some dry holes. Nevertheless we are disappointed that drilling in this frontier basin has not offered more encouragement. Salamander’s drilling campaign will be moving on to the proven Kutei basin, offshore East Kalimantan, Indonesia.”
About Salamander
Salamander is an Asia focussed, independent, FTSE 250, upstream oil and gas exploration and production company. Salamander has a balanced portfolio of production, development and exploration assets with interests located in Indonesia, Thailand, Vietnam, Lao PDR and the Philippines.
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Source: SalamanderEnergy,July 23, 2010