2009-08-17-2008-05-01-2008-05-01

Bought co., gaining 60% interest in 104,000-acre offshore Bualuang Field, 35% interest in 83,000-acre offshore Kambuna project, northern Sumatra, 22.5% interest in 1.1-million acre Seruway PSC.

Salamander Energy Plc, London, (London: SMDR) has acquired GFI Oil & Gas Corp., Calgary, (Toronto Venture: GFI) for approximately US$68.8 million. Salamander paid US$0.3129 in cash and 0.1573 share per GFI share for a total of US$34.8 million in cash and 30,843,367 Salamander shares. GFI assets include a 60% interest in the 104,000-acre Bualuang oilfield offshore Thailand and a 35% nonoperated interest in the 83,000-acre Kambuna project offshore northern Sumatra, Indonesia. GFI also holds a 22.5% nonoperated interest in the Seruway production sharing contract covering approximately 1.1 million acres offshore North Sumatra Indonesia. Salamander focuses on Southeast Asia. Salamander chief executive James Menzies says, "The completion of this corporate acquisition provides Salamander with a material increase in reserves and near-term production, enlarges our exploration and appraisal program and reaffirms Salamander's position as a leading independent E&P company in southeastern Asia." He adds that drilling has begun on both the Bualuang and Kambuna fields since the deal was announced in December. Tristone Capital and Oriel Securities were advisers to Salamander.