Its very interesting to compare the recent discover at red...

Its very interesting to compare the recent discover at red emperor block 07/03 to those discoveries within block 12w. Its very interesting to cpmare the results of those drills against the only drill so far in block 07/03

Block 12w

Dua-5X Oil and Gas discovery

gas and oil reservoirs in the southern fault block of the Dua structure. Two reservoir intervals were tested. The primary reservoir target flowed oil at a stable rate of 5,543 barrels of oil per day ("bopd") plus 6.76 million standard cubic feet of gas per day ("MMscfd") through a 128/64" choke. A deeper secondary reservoir flowed at a rate of 247 bopd through a 28/64" choke. Neither zone produced water on test.


Chim Sáo North appraisal well update

The first zone tested flowed oil at a sustained rate of 1650 barrels of oil per day ("bopd") plus 1.4 million standard cubic feet of gas per day ("mmscfd") on a 40/64th inch choke. The second zone tested flowed oil at a sustained rate of 2680 bopd plus 2.1 mmscfd on a 48/64th inch choke. No water was produced on either test.

So we can clearly see the potential in the basin and the results from red emperor are very encouraging especially considering the finds in block 12w were enough to be considered commercial. The plan for block 12w is a stand alone platform with a fpso planned to cost US$800 million and produce at 25,000 bopd. We are just waiting on the survey results but premier must be quitely confident on the red emperor discovery as it compares very nicely besides the other finds in the block directly south of block 07/03. We have finds on every side of the block 07/03 i guess the only thing us shareholders are waiting for is vietnamese govt approval.