Salamander Takes Thai Bite

摘要

Asia-focused independent Salamander Energy has entered into a conditional sale and purchase agreement to buy Soco International’s Thai subsidiary for $105 million. Salamander will take over Soco’s 40% stake in the B8/38 Block in the Gulf of Thailand, where it already has a 60% interest. Soco will receive a further $1 million for future production of up to 1 million bbl from any discovery made in the block, from where oil output is sold to Thai state PTT under a one-year term contract that began in January 2010.