PPP in the adjoining block 121 should be nearing it's drill target sometime next week.
Will be very interesting to find out any news/results when they become available over the coming weeks and to watch it's affect on their sp. To-date the PPP sp has been totally uninspiring flat - I hope that is no indication of what we can expect.
Here's their last ann dated 9/7/13:
Vietnam Block 121 Exploration Drilling Update Origin Energy (Song Hong) Pte Limited (“Origin”), the Operator of the Block 121 Production Sharing Contract, offshore Vietnam, have reported that at 0600 hours on 9th July the 121-CV-1X exploration well currently being drilled by the “Ocean General” drilling rig, was at a measured depth of 2967m BRT (below rotary table) and was planning to set the 9 5/8” casing.
The 121-CV-1X well has been designed to evaluate the hydrocarbon potential of the Whale (“CV”) prospect, an unconformity and tilted fault trap, targeting Oligocene clastic reservoirs and is now close to the top of the main objective section.
The well has a planned total measured depth (TD) of approximately 3771m BRT, and the Operator will complete evaluation of the objective sequence by wireline logging after reaching TD. 121-CV-1X well will be plugged and abandoned after the evaluation has been completed.
The well is being drilled in a water depth of 270m and was spudded on 15th June.
NEN Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
