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Salamander farm out in Vietnam
Independent oil and gas company Salamander Energy yesterday announced an agreement with Japanese oil and gas exploration JX Nippon to farm out a 20 per cent interest in Block 101-100/04 that contains the Cat Ba oil prospect offshore Vietnam. Chief executive James Menzies said the transaction reduced Salamander’s financial exposure to the drilling while staying leveraged to the upside in the event of success at Cat Ba.