Salamander Energy to float in London

Salamander Energy to float in London

Southeast Asia-focused oil and gas explorer Salamander Energy Ltd said on Wednesday it planned to float on the London Stock Exchange, raising funds in the process to accelerate its growth plans.

A spokesman for Salamander, whose main operations are in Indonesia and Thailand, would not comment on how much money it planned to raise.

Salamander said in a statement its daily working interest production was the equivalent of 6,600 barrels of oil (boepd), addingthis was expected to rise to over 8,000 boepd in 2007.

“We have current production and near-term growth from fields in Indonesia and Thailand, an active 2007/08 appraisal drilling program and are commencing extensive exploration activities,” the company said.

The Daily Telegraph newspaper reported Salamander would raise $200 million and have a market capitalisation of $520 million. The Financial Times newspaper reported Salamander would have a market capitalisation of 200 million pounds ($380 million) to 300 million pounds.

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