UPDATE 1-Salamander Energy makes FY loss, sees 2009 growth
* FY revenue up 45 pct to $100.8 million
* Net loss $66.5 mln vs profit $4.6 mln
* Well-placed for more production, cash flow growth in 2009
(Adds detail from statement)
LONDON, March 25 (Reuters) - Salamander Energy (SMDR.L) said on Wednesday its annual revenue had increased by 45 pct, although it made a loss due to writeoff and impairment charges.
Salamander said revenue rose to $100.8 million from $69.6 million a year before, but fell to a a post-tax loss of $66.5 million against a post-tax profit of $4.6 million.
The oil and gas explorer, which has businesses in Indonesia and Thailand, said world financial turmoil partially overshadowed its achievements in a year in which underlying production and reserves grew and it expanded its portfolio.
It said it anticipated its 2009 average daily production rate to be between 15,000 and 17,000 barrels of oil equivalent per day and it expected to operate more than 65 percent of its total production by the end of 2009.
"Our cash position and balance sheet, which was restructured ahead of the mid-year deterioration in the capital markets, means we are well placed to deliver our work programme, which will see further production and cash flow growth as well as exploration and appraisal drilling in north east Thailand, Gulf of Thailand and in East Kalimantan, Indonesia," the group said in its results statement. (Reporting by Philip Waller; Editing by David Holmes)
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