Salamander plugs Thai well

Asia-focused Salamander Energy yesterday confirmed it had plugged and abandoned a well offshore the Gulf of Thailand, as it was deemed a sub-commercial discovery. The oil and gas exploration firm said a sand-rich section of the NW-1 well had led to a leakage, and Salamander said the well was not commercially viable. James Menzies, chief executive of Salamander, said yesterday that the result was “disappointing”. In an update last month, Salamander said that this year’s daily production target remained in line with previous guidance at between 10,500-11,500 barrels of oil equivalent each day. Its shares sank yesterday to close down 2.34 per cent at 187.5p.