Financial News

LONDON (ShareCast) - Oil and gas firm Salamander is higher after it announced the spudding of Phu Kheng-1 exploration well Northeast Thailand.

The Phu Kheng-1 well, which is in Block L27/43, is targeting gas in the Jurassic and Triassic sandstones of the Phu Kradung and Nam Phong formations. The mean gross pre-drill estimate of prospective recoverable gas resources is approximately 1 Tcf.

"Phu Kheng-1 has the potential to open up a new play in the Khorat basin, where Salamander is the leading acreage holder. It is the second well of our current E&A campaign that is targeting in excess of 90 MMboe of net prospective resources," said chief executive James Menzies.

Salamander holds a 27.2% interest in Block L27/43.

FTSE 250 (news) - Risers Euromoney Institutional Investor (ERM) 216.50p +6.65% Mcbride (LSE: MCB.L - news) (MCB (Frankfurt: A0ND6X - news) ) 148.00p +4.23% Melrose Resources (LSE: MRS.L - news) (MRS) 278.00p +4.12% Marston's (MARS) 134.50p +3.66% TR Property Inv Trust Sigma Shares (TRYS) 54.25p +3.33% Novae Group (LSE: GB00B114L043.L - news) (NVA) 302.50p +2.89% Forth Ports (LSE: FPT.L - news) (FPT) 1,008.00p +2.75% BSS Group (BTSM) 258.75p +2.68% BlueBay Asset Management (LSE: BBAY.L - news) (BBAY) 210.00p +2.44% Northern Foods (LSE: NFDS.L - news) (NFDS) 53.25p +2.40%

FTSE 250 - Fallers Aquarius Platinum Ltd. (AQP) 196.25p -6.55% SThree (STHR) 159.50p -4.35% Domino Printing (DNO) 247.00p -3.23% F&C Commercial Property Trust Ltd. (FCPT) 74.50p -2.93% Arriva (ARI) 394.25p -2.65% Dunelm (DNLM) 207.50p -2.47% Great Portland Estates (LSE: GPOR.L - news) (GPOR) 216.25p -2.37% Salamander Energy (LSE: SMDR.L - news) (SMDR) 186.75p -2.35% Dimension Data Holdings (DDT) 56.75p -2.16% Cookson Group (CKSN) 249.50p -2.06%