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Salamander Energy terminate SONA agreement


Published Jan 15, 2015
Salamander Energy

Salamander Energy plc issues the following operational and corporate update that includes unaudited information and may be subject to further review.

Highlights • 2014 average production of 14,200 boepd • Bualuang field and the Sinphuhorm field both produced record high annual rates • Kerendan Gas Processing Facility is nearing completion • Renegotiations on the Kerendan gas sales agreement are expected to complete shortly with significantly more favourable terms • Net debt as at 31 December 2014 of US$380 million with cash and funds of US$118 million • Scheme Document in relation to the offer by Ophir Energy plc to be posted today; shareholders of Salamander and Ophir to vote on 6 February 2015; the Scheme expected to become effective 2 March 2015 • Intention to terminate the sale of an effective 40% interest in the Greater Bualuang Area with mutual agreement by SONA, satisfying a condition of the Ophir Offer

Tags: Salamander Energy




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