Fight! Fight! Fight!

Eh! Where Gozilla88? England - how many ball you give me? How much?

Most people got caught by surprise - they expected after the big announcement, the stock to fly high. But it went south.

Tornado - a lot of people here are heavily trap at above 55 - 60 cents. Then average down. Now waiting.

Wah! Rebound!! Good good! Still trade with care as need to sustain. If no momentum, then just bear trap. See whether momentum buildup. Spain out, upset a lot of people. Today ENGLAND!! Three lions must win!!!

Spain out of World Cup! Shocking!!!!!

CLIQmanagement - yes - after QA - no longer SPAC, so no more capital protection. Will be interesting to see what will happen to stock price once QA approve with no capital protection.

Godzilla88 - how? You give me 4 ball - I take now! How much?

Kmtan88 - if war break out, whole market kaput!!!

Gozilla88 - you give me 8 ball, I take. How much?

AGM is a place where you can bombard the directors kaw law!!

What happen now? YTL no more in favour with government?

once QA approve - possible freefall like waterfall as no more capital protection for investors as money already used.

King of stock - which go-go bar is this big blow hot show?

Guyz - Sona only buying working interet in the field - no management control.

Salamander is pleased to announce that it has signed a non-binding HoA with SONA to sell an effective 40% WORKING INTERESTin both the B8/38 concession (containing the Bualuang Field) and the surrounding G4/50 concession for a total cash consideration of US$280 million (together the "Transaction").

Under the terms of the Transaction:

· SONA will pay Salamander US$250 million for a 40% effective interest in the B8/38 concession

· SONA will pay Salamander US$30 million for a 40% effective interest in the G4/50 exploration
concession

· Salamander will carry SONA's costs associated with the drilling of two exploration wells in the G4/50
concession up to an agreed cap

· SONA will pay Salamander a contingent cash payment in the event of a commercial discovery in
G4/50 of up to $15 million



As at 31 December 2013, Salamander's estimated gross Bualuang Field 2P reserves were 32.7 million barrels of oil ("MMbo") and gross 2C resources were 32.3 MMbo.

The Transaction has an effective date of 1 January 2014 and following its successful completion, the Board has approved a US$50 million capital return to shareholders, equivalent to approximately 11 pence per share. Post closure of the Transaction, and ahead of the next phase of development of the Bualuang Field, the Group expects to retire between $200 million and $250 million of current debt.

The HoA remains subject to, amongst other things, the signature of final documentation, including share sale and purchase and shareholders' agreements, which is anticipated to occur prior to the end of June. A further announcement will be made at that time. The Transaction is expected to close by the end of Q3 2014 following satisfaction of all conditions, including receipt of both regulatory and shareholder approvals of both Salamander and SONA.

Further details - read:

http://www.investegate.co.uk/salamander-energyplc--smdr-/rns/agreement-to-sell-40--in-greater-bualuang-area/201406050700088831I/