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Salamander Energy spuds offshore Vietnam exploration well

Salamander Energy PLC (LON: SMDR), Asia focused independent oil and gas exploration and production company, announced the spud of the Tom Hum Xanh-1X (31-THX-1X) exploration well in Block 31, in the Vinh Chau Graben system, offshore southern Vietnam.

Salamander holds an operated 35 percent interest in Block 31, which was the subject of a previously announced farm-out arrangement between Salamander and Origin Energy in December 2009.

The 31-THX-1X well will be drilled to a depth of approximately 2,500 metres and is targeting oil in the Eocene-Oligocene clastics as well as pre-Tertiary basement in a horst block structure in the centre of the basin.

The mean gross pre-drill estimate of prospective recoverable resource is circa 80 million basrrels of oil. The well will be drilled by the PVD-1 jack-up rig in a water depth of 18 metres. It is expected to take approximately 32 days to complete on a dry hole basis.

Salamander has a portfolio of production, development and exploration assets with interests located in Indonesia, Thailand, Vietnam, Lao PDR and the Philippines.