Salmander Primes Bit for Cat Ba Prospect

- Salmander Primes Bit for Cat Ba Prospect

Friday, July 15, 2011
Salamander Energy plc


Salamander announced the completion of drilling operations on the Dao Ruang structure, Block L15/50, onshore Northeast Thailand.

The Dao Ruang-3 appraisal well ("DR-3") has been drilled to a total depth of 1,800 meters true vertical depth sub-sea in order to test the pre-Tertiary carbonate section on the northern flank of the Dao Ruang structure. The well intersected a number of zones of interest with associated gas shows and a full suite of wire-line logs have been acquired. Analysis of all available well data suggests that DR-3 would have limited potential as a producer from the current wellbore. Due to this, and wellbore stability reasons, a decision has been made not to flow test the well. The DR-3 well is currently in the process of being plugged and abandoned.

Meanwhile, in Vietnam, the Aquamarine Driller jack up rig that will be used to drill the Cat Ba-1X prospect in Block 101/100-04, Offshore Northern Vietnam, is due to imminently commence mobilization to the well site. The Cat Ba-1X well is expected to spud before the end of July 2011.

James Menzies, Chief Executive Officer of Salamander Energy, said, "Dao Ruang is clearly a very large, gas-bearing structure, though we have not been able to find effective reservoir. We will now use this recent well data, together with the new 3D seismic data acquired over the Sinphuhorm field, to further develop our understanding of the play and review our wider position in the Khorat basin.

Focus of the drilling program now moves to offshore Vietnam with Cat Ba, a 100 MMbbl oil prospect, expected to spud later this month."

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Caterpillar Sales Up 52%

- Caterpillar Sales Up 52%



Jun 20, 2011

Caterpillar Inc. (NYSE:CAT) rose 1.3% Monday and was leading the Dow Jones Industrial Average after reporting strong sales to the U.S. Securities and Exchange Commission.

The company's three-month sales, ending in May, were up 52% compared to the same time period in 2010.

The increase has been driven by sales in Europe, Africa, and the Middle East. These sales are up 65% from a year ago. Sales rose 60% in Latin America. Stock changed at $97.24 at the latest, but has dropped 6.8% over the past month.

Caterpillar (NYSE:CAT) has a potential upside of 38.2% based on a current price of $97.36 and an average consensus analyst price target of $134.53.

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Caterpillar Announced It Plans To Open A New Manufacturing Facility In Thailand

- Caterpillar Announced It Plans To Open A New Manufacturing Facility In Thailand



Jun 16, 2011

Caterpillar (NYSE:CAT) announced that it plans to open a new manufacturing facility in Thailand, with construction expected to begin in 2011, and production expected to begin in late-2013.

Tom Bluth, Caterpillar vice president with responsibility for the company's Earthmoving Division said, "We continue to make strategic investments in our construction business to support our customers. We are pleased to announce the expansion of Caterpillar's manufacturing operations in Thailand, which will increase our capacity for our existing range of medium track-type tractors, particularly as we sharpen our focus on meeting long-term customer demand in growth markets."

Caterpillar has a potential upside of 41.7% based on a current price of $94.92 and an average consensus analyst price target of $134.53.

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Caterpillar and GE investigation for price fixing

- Caterpillar and GE investigation for price fixing



May 31, 2011

EU regulators said they had reason to believe Caterpiller and GE may have violated price fixing rules. Both companies said on Monday that European Commission antitrust officials conducting a probe of possible collusion among producers of industrial piston engines had inspected them last week. Caterpillar and GE confirmed that their offices had been raided, and said the company is fully cooperating with officials. The dawn raids occurred on May 25th, and are the first step in probes that could potentially result in fines of up to 10% of yearly revenues.

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