John Magnier

Salamander Energy, the south-east Asia oil company backed by businessman John Magnier (right), lost $14.3m (€10m) in the first half of this year, up from $6.6m in the same period last year. The loss was mainly due to mark to market hedging charges, without which the company would have made a $2m profit. Revenue rose 65% to $77.2m while production rose 56%.


The company has discovered an additional oil pay in the Gulf of Thailand and has drawn up a drilling programme for 2010.