Salamander prepares insurance claim following well incident offshore Indonesia

Salamander Energy has started an insurance claim related to its drilling campaign offshore Indonesia.

Offshore staff

LONDONSalamander Energy has started an insurance claim related to its drilling campaign offshore Indonesia.

The program in the North Kutei basin has so far led toone confirmed discovery and a suspended potential gas find at North Kendang-1. Operations continue on the Bedug-1 exploration well.

North Kendang-1 encountered problems with high pressures, with substantial rig time spent getting the well under control following a gas kick.

The estimated $20-million claim has been filed for the cost of well control and loss of contractor equipment with an application for an early interim payment. A further claim related to the cost of re-drilling the well will also be submitted.

Salamander does not expect final settlement before end-2013.

5/22/2013

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