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2014-04-01

SALAMANDER ENERGY PLC: Annual Report and Accounts and Notice of AGM

Salamander Energy plc

4th Floor, 25 Great Pulteney Street, London, W1F 9LT

Telephone: - 020 7432 2680 Fax: - 020 7692 5524

1 April 2014

Salamander Energy plc

(the 'Group' or the 'Company')

Annual Report & Accounts and Notice of Annual General Meeting

Salamander Energy plc has today published on its website,
www.salamander-energy.com, its Annual Report and Accounts for the
year ended 31 December 2013 (the "2013 Annual Report and Accounts"),
together with the Notice of the Company's 2014 Annual General Meeting
that will be held on 6 May 2014.

Hard copies of these documents will shortly be mailed to those
shareholders who have elected to continue to receive paper
communications.

These documents, together with a copy of the notice of availability
sent to shareholders receiving web-communications and the form of
proxy for the 2014 Annual General Meeting, will be submitted to the
National Storage Mechanism and will shortly be available for
inspection on the National Storage Mechanism's website,
http://www.Hemscott.com/nsm.do.

The 2014 Annual General Meeting will be held at the Institute of
Directors, 116 Pall Mall, London SW1Y 5ED at 2.00pm on Tuesday 6 May
2014.

IMPORTANT: EXPLANATORY NOTE AND WARNING

The primary purpose of this announcement is to inform the market about
the publication of the 2013 Annual Report and Accounts. The
information set out in the appendices to this announcement has been
extracted from the 2013 Annual Report and Accounts and is included
solely for the purpose of complying with DTR 6.3.5 and the
requirements it imposes on issuers in respect of how to make public
annual financial reports. It should be read in conjunction with the
Company's 2013 Full Year Results Announcement issued on 13 March
2014. Together these constitute the material required under DTR
6.3.5 to be published in unedited full text through a Regulatory
Information Service. This material is not a substitute for reading
the full Report and Accounts. Page numbers and cross-references in
the extracted information below refer to page numbers and
cross-references in the Report and Accounts.

Since the Full Year Announcement, there have been no material changes
in relation to the directors' interests in the Company as presented
in the Annual Report and Accounts, except those set out in the press
release dated 19 March 2014 relating to Directors' Awards under the
Performance Share Plan 2006.

For further information:

Salamander Energy 020 7432 2680

Charles Morgan, Group General Counsel and Company Secretary

Geoff Callow, Head of Corporate Affairs

Appendix One: Principal Risks

The identification and mitigation of risks are of critical importance
to the Group as it continues to expand and operate the majority of
its activities.

Effective risk management is essential if the Group is to deliver its
strategic and operational objectives whilst maintaining its excellent
HSE record. Risks are identified, documented and monitored through a
risk register with senior management involved at all stages of this
process. Once a risk is identified, mitigants are defined and
responsibility assigned. The risk register is a dynamic process with
new risks being identified and others being removed as they are
eliminated or become immaterial. The risk register is presented to
both the Audit Committee and the Board on a regular basis.

Strategic Risks
Description How we Responsibility Change (v Assessment
manage it prior
year)
Intensified Allow CEO Increased Mid.
political and investor
fiscal to
risk through diversify
focus on a risk.
single Within
asset region,
exposure
to three
or more
countries
and a mix
of
economic
regimes.
Over reliance on Diversify CEO Increased High
a single production
producing asset base,
partially
monetise
when peak
value in
view.

Operational Risks
Description How we manage Responsibility Change (v Assessment
it prior
year)
Failure to develop & Relationships CEO, COO Increased Low
manage relationships well
with host established in
governments, all countries.
regulators and Ensure
NOC's relationships
established
beyond Energy
ministries to
include
Environment.
Participate in
industry-wide
initiatives.
Develop and
maintain
contracts at
different
levels
throughout
organisations.
Unbudgeted cost over Extensive COO Increased High
-runs planning pre
-investment,
cost
engineering &
estimating
with
experienced
resources.
Value erosion Extensive in COO No change Mid
through project drag -house
experience to
prepare,
submit &
lobby.
Establish
realistic
schedule
upfront,
taking account
of likely
bureaucratic
delays. Close
monitoring and
engagement
with
authorities at
working
levels.

HSE Risks
Description How we manage Responsibility Change (v Assessment
it prior
year)
Catastrophic loss Standard set COO No change Mid
due to operational of useable and
incident comprehensible
procedures.
Utilise high
quality and
experienced
staff.
Training in
critical
operations
with
contingency
plans that are
communicated.
Implementation
enforced and
policed.
Negative project Close COO No change Mid
impact through poor engagement
community with
stakeholder communities.
relations Educate as to
our
activities,
sponsor
community
initiatives
and local
projects in
-line with CSR
strategy.
Loss through third HSE COO No change Mid
party HSE standards requirement in
all tenders.
Ensure
bridging
documents are
in place
before
operations
start and that
there is
sufficient
resourcing in
place to
ensure
contractor
compliance.

Financial Risks
Description How we Responsibility Change (v Assessment
manage it prior
year)
Business Targeting CFO Decreased Mid.
constrained capital
through lack expenditure
of capital broadly in
availability -line with
cash
generation.
Diversity in
funding
options,
asset-backed
debt,
corporate
bonds and
equity.
Partial
asset
divestments
provide
further
optionality.
Uncertainty in Hedging CFO No change Low
planning & policy to
results mute cash
through volatile flow
commodity prices. volatility
and enhance
planning
ability.
Indonesian
gas sales
contracts at
fixed prices

Governance and
compliance Risks
Description How we manage Responsibility Change (v Assessment
it prior
year)
Ensuring Corruption & Continued CEO,Group No change Low
Bribery Act Compliance review of Gene...

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