upside rewards more than downside risk :)

Salamander Energy plc issues the following Interim Management Statement for the period from 1 January 2014 to 6 May 2014.

Highlights

•Development drilling on Bualuang field continues to highlight new zones of interest
•Bualuang Charlie development plan expected to be submitted for Board approval in mid-2014
•FSO conversion on schedule, vessel expected to arrive at Bualuang field in July 2014
•Resubmission of G4/50 EIA expected in May 2014
Production has recovered well from a period of downtime at the Bualuang field early in the year with Group production up to the 30 April 2014 averaging 10,900 boepd, with an underlying full production rate of 14,900 boepd during April. With the current development drilling campaign ongoing, the Group reiterates its 2014 production forecast of 13,000-16,000 boepd.


In January production at the Bualuang field was shut-in due to the facilities being damaged. Drilling continued whilst production was shut-in, with a further two new development wells being completed before the field recommenced production on 13 February, with significantly less water cut in the production stream. With a further three new wells being completed across the balance of the first quarter, Bualuang production has been excellent averaging 13,000 bopd during April 2014.

A key milestone in converting a large tranche of Bualuang’s 27.7 MMbo of certified contingent resources into 2P reserves will be Board approval for the Charlie development. The conceptual design studies for the additional infrastructure are well advanced and the Group is on schedule to table the preferred development concept for Board approval over the summer.

Looking to the future, despite significant upgrades during 2013, management believes that there is potential for further resource additions on the Bualuang field. The current development drilling campaign has highlighted yet further oil-bearing pay zones which are yet to be documented fully.

The plans to reduce operating costs with the swap out of the FPSO for an FSO are on schedule with the FSO due to be in the field at the start of the summer with switchover to the new production infrastructure expected to take place in August 2014. On completion of the switchover from the FPSO to the FSO operating costs will be reduced by up to US$25 million per annum.

On the exploration front, the additional work on the G4/50 Environmental Impact Assessment (“EIA”), requested by the Technical Review Committee at the last hearing earlier this year, has now been completed and the EIA is expected to be submitted imminently.

From salamander website:

Exploration wells in G4/50 are both quick and cheap to drill, taking around 10 days and costing c. $4MM*. Any discoveries can be brought on-stream in around 18-24 months.

more info just go to their website and learn.

http://www.salamander-energy.com//our-operations/greater-bualuang

Good sense of humour happytradingz...Good for you LKWWGP.... I think I am one of the little sheep also hopefully not getting slaughter anytime soon...

I follow also.... Coming Soon!!!!hahaha

Thought I have sent my previous comment, retype again... No need to feel guilty, you have already tried to warn us in advance, some more you don't owe anyone here anything... Sometime learned from the hard way, can actually benefit one to do better in the future though is painful at the moment.

your action-reaction theory apply in stock does sound interesting, better than the Newton's 3rd law... got time please share more...:)

I am glad follow your rubbish advice, else I would have to cut loss already...

Sorry is Babeh Penghulu....

I am a little blur here, Badeh Penghulu boleh tolong?

many ppl get slaughter like a little sheep so sad.... how to help leh any advice LKWWGP ?

This "rubbish" is so much better than others true rubbish I read daily in I3.... please do continue with your rubbish talk.... hahaha

Dear duitkwspkita,

No need to apologize to this guy.... you are free to comment here, as this is a public forum, plenty of ppl making all sort of comments,,, you have my full support for making any comments as you wish, those who HAVE the brain can decide if it is worth to listen or not...

You are doing great...!

Another mega sale? you sure nor not....

me collecting some more for past few days....hahaha

Sona has graduated from the pre-school now start real schooling, while cliq still in the pre-school play play there....

I rest here lar, this one need holding...hahaha

Thanks. Lost an opportunity, can always find another one. Lost money takes time to recover back...

No worry duitkwspkita, you wish me earn money is very different from you guide me earn money....hahaha

Not intend to "invest" after today... better be safe than feel sorry later... Thanks for your kindergarten prediction.

Wwhere are you Duitkwspkita? Didn't see you the whole afternoon, busy sweeping today? Very tempting the whole day but didn't buy... still waiting for your update.

I can't beat them but I can try to "ride" with them...hahaha

thought you better than your remiser still need to ask him?...hahaha

Traderman, I meant the one you mention lar... Sona still good...hahaha

traderman, someone predict it will drop soon...good luck to you. don't forget to jump in when back to uptrend soon...hahaha

Wait till 0.45 then "wake" me up... hahaha

telling ppl to have faith, then when see down a little bit faith gone shouting abandon "ship"....hahaha

I am glad Sona run by experience uncle and aunties who been through life eaten more salt than those youngers eat rice....:)

Duitkwspkita, any update on your kindergarten prediction? very tempting to buy this counter....hahaha

ticket pun tak habis jual??? I thought jjtrader sudah sapu semua...hahaha anyway, I naik balik lagi don't play play with jjtrader... dia punya prediction good one, look at Ekovest today... sayang tak beli saya..hahaha

I am happily "stuck" here...hahaha

silent is "gold".... no worry I have full faith here...hahaha

You know the answer.... :) Many with benefit from your sharing...hahaha

Hi Connie, sorry for keep popping into your house... am attracted by your "VIP" guest- duitkwspkita.... hahaha

Very nice one Duitkwspkita.... I read it recently after I kind of "suspect" you either is a "nut" case or true "genius" for someone who dare to "time" the share, so search through your posting and found that posting... hahaha

Please continue to share more to newbie like me.... you are like those main character in kongfu fiction who reach the "peak" and got nothing to proof already and just want to "pass" on some "secrets" to help others... hahaha

Duitkwspkita, may be next week you drop by Sona and give us some "blessing" also lor.... then everyone there will be happy and lovely to each other....hahaha Enjoy your long holidays.

duitkwspkita, no worry lar do as what you feel best... glad you show one or two "special" moves here....hahaha

Sona is making history....hahaha

Duitkwspkita, WOW! a cleaner that well-versed in 5S and Lean Six Sigma truly very rare and highly valuable, watch out for headhunters to seek you out....hahaha

Duitkwspkita, your prediction is good, but your essay is excellent!! Somemore can't expect you around all the time,,, so got to learn how to do my own prediction lor....hahaha

By the way, I like your essay more than your prediction if you know what I mean...hahaha

Raya time .... relax first... hahaha

Duitkwspkita, hope you still around....eagerly waiting for your chapter 2 & 3.... if you ever to find time to write on it... :)

KOS shout too much for the past month now sore throat lor... JunJun having vacation enjoy some of his profits... Ruslimz and TLTan hmmm...may be silently planning new strategy..... everyone still around lar... no worry more new guys/gals joining and wait for AXX150 flight, do inform us when taking off...hahaha

I sold half because seems like most of ppl like to sell on news so follow lor... luckily it did pullback for me to collect back...hahaha

where got easy money waited for more than a month lor bought from 0.60 all the way down to 0.495...hahaha easy money is for the day trader to make...

I am off....may be join back later after raya... no worry lar JJtrader you got tons of bullet to spare mah...

Sold half few days ago... now finally done with collecting back and add some more....:) now I can start promote again (don't trust all I said because I am holding Sona and thus my view will be bias) holding and waiting for my TP=1...hahaha

Cool down everyone... when Sona hit TP=1 everyone here will become so "lovely"...hahaha

Things will start to get very interesting when they start drilling the 2 exploration wells... my personal TP=1 coming...hahaha

I hardly can wait for your Chapter 2!!! this is like finding a treasure map....thank for your sincere sharing, and do continue please, I am greatly benefit from it...:)

Duitkwspkita, you wrote the best essay.... pleae do continue to share more for newbie like me... sorry just pop-in to comment because was attracted by this wonderful essay... he who understand will find great "treasure" in it... hahaha

Rule #2 when you invest: manage your risk, know your limit as to how much you willing and can afford to risk it before investing as there is no such thing as sure win each time.... hahaha