Salamander Energy Plc (SMDR), a United Kingdom oil explorer active in Asia, said it is focusing on three fields in Thailand and Indonesia as it bolsters production and steps up exploration.
The London-based company said profit margins will rise along with production this year. The company reduced debt and raised cash in a share sale last year to fund its program.
It said operating cash flow per barrel of output climbed to US$40.22 last year compared with $28.56 in 2011. Profit before tax plunged to $10.8 million from $112.6 million a year earlier after the company sold older, less profitable producing assets.
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