Salamander Energy - SMDR Stream Log

This seems fairly low risk now, so a larger position size may be appropriate.

Reminds me of Cove Energy. Counter bid after counter bid and SP roared.

I have a feeling this will rise past the 121p level in anticipation of a counter bid.

Up 19.50p today - now at 116.00p and still rising. This is more like it.

Forgive my ignorance on this, but it's not a position I've been in before - if the takeover proves successful, do I then lose my shares to the new owners of SMDR at the agreed takeover price, or do I have the option to hold them?

Ophir to launch £275m bid for rival oil explorer Salamander Energy,Sona Petroleum - OPHR, SMDR News Today, 7:14 AM [link] A BIDDING WAR is set to break out over Salamander Energy, a London-listed oil explorer with operations in Asia. It is understood that Ophir Energy.

never under estimate the potential of this dog to disappoint ...

Salamander is a definite hold for me. Very well managed company by all accounts and it's important to remember that as I write this, they are filling barrels of oil at the Bualuang field, so there is real substance to the company (unlike KEA which was being touted heavily on here a couple of weeks ago and which now looks like a complete basket case). More drills to come, but the company does need to reduce the debt (which is clearly what spooked the market yesterday). For those prepared to hold, I remain convinced that there will be good profits ahead.

Up another 2.09p this morning to 109.75p. Hopefully, Salamander now on the path to sustained growth.

Salamander Energy, the South East Asia-focused oil and gas producer, said the Suksan Salamander floating storage and offtake vessel at the Bualuang field in the Gulf of Thailand has received first oil. The company, said the latest development marked the peak of the redeveloping process to the site, which extended the field's productivity, as well as increasing the potential production rates. Salamander said it was planning to cut its operating costs at Bualuang by $25m per year. "We have upgraded production infrastructure in the Bualuang field on both time and budget. The new facilities enhance the value of the field, minimise the risk of future downtime and mean we are well positioned for the next phase in the field's growth," said James Menzies, the company's chief executive. Salamander shares rose 2.40% to 106.50p at 12:23 on Tuesday.