Asian-focused exploration company Salamander Energy today confirmed it had found a “significant column of gas” on the West Kerendan field onshore Indonesia.
Primary drilling at the WK-1 well, in central Kalimantan, has been successful and Salamander now plans to carry out further drilling to deeper secondary targets.
The company said all drilling, logging and other geological data to date suggests the primary target is gas-bearing with the potential for 340 metre gas column.
Last month the company placed an unsecured bond to raise more than £90million to refinance its existing £31million Kerendan Bridge facility and to fund up to £62million of convertible bonds.
Salamander, who earlier this year was hit by delays following an oil spill in the Gulf of Thailand, said the unsecured bond would simplify its debt portfolio.