Salamander extends Vietnamese leasing

Salamander Energy Plc and Petro Vietnam Exploration Production Corp. Lt are scheduled to sign a production sharing contract for block 31 offshore southern Vietnam.

Offshore staff

HANOI, Vietnam --Salamander Energy Plc and Petro Vietnam Exploration Production Corp. Lt are scheduled to sign a production sharing contract for block 31 offshore southern Vietnam. Salamander will be operator with 60% interest.

Block 31 covers more than 5,000 sq km (1,931 sq mi) adjacent to Salamander's Cuu Long River Delta 01 block. Salamander says existing 2D seismic data indicates lacustrine source rock and multiple play types.

"When taken together with block DBSCL-01, we now operate a 13,000-sq km (5,019-sq mi) swath of acreage across graben systems which we believe are analogous to the highly prolific Cuu Long basin, which lies to the east of our blocks," says James Menzies, CEO of Salamander. "We look forward to exploring this area with our partner, PVEP, and are conducting geological and geophysical studies ahead of exploration drilling in 2010."

03/11/2009

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