Just trying to fill some time before we get news on Block 105 drilling and came across this article from last November - http://www.zacks.com/stock/news/86719/CNOOC-Hits-Gas-Again-in-Yinggehai
Says CNOOC has made a discovery at Dong Fang in the Yinggehai Basin - right next to Block 105 – with flow rates of 42.4 million cubic feet of natural gas per day. Interfax is also reporting this is a proven resource of 1.7tcf, with plans to upgrade to 3.5tcf, and the Zacks article seems to say this is all from one 35-metre thick zone.
Anyone got any more info on where this discovery is? If it's close to Cua Lo and in a similar geological setting we could be looking at something massive, especially given NEN is looking to test five zones rather than one!
NEN Price at posting:
24.7¢ Sentiment: Buy Disclosure: Held