Thought this was interesting. I wonder whether they will ask Neon to join them!
On the KRIS website...........either ENI have no confidence or KRIS still see potential.
"Singapore, 9 March 2015 – KrisEnergy Ltd. ("KrisEnergy" or the "Company"), an independent upstream oil and gas company, announces that it has increased its working interest in Block 105-110/4 ("Block 105") and taken over operatorship of the production sharing contract following the execution of a deed of assignment on 9 March 2015 between Eni Vietnam B.V. ("Eni Vietnam") and KrisEnergy (Song Hong 105) Ltd ("KrisEnergy 105") ("Deed").
Pursuant to the Deed, which is effective 31 December 2014, Eni Vietnam’s 66.67% working interest in and operatorship of Block 105 will transfer to KrisEnergy 105, subject to the approval of the Ministry of Industry and Trade of Vietnam ("MoIT"). Prior to the Deed, KrisEnergy 105 held 33.33% working interest in Block 105. In January 2015, MoIT granted a 12-month extension to the Phase 1 Exploration Period, to 2 February 2016.
Chris Gibson-Robinson, KrisEnergy’s Director Exploration & Production, commented: "Following a 12-month extension of the exploration period at the beginning of 2015, we are still keen to investigate the prospectivity of several play types in Block 105 particularly the faulted Tertiary plays on the western margin of the contract area. We are also in discussions with other parties who have expressed an interest in joining us in Block 105."
NEN Price at posting:
3.1¢ Sentiment: None Disclosure: Not Held
