premier comments on 121

Premier has released its half yearly report and has made the following comment about the Vietnam block that it has taken a 40% stake in. ( PPP has 15%)

"In the second quarter, Premier farmed into the Block 121 for a non-operated participating interest of 40 per cent, subject to formal Vietnamese Government approval. Premier has already identified one prospect, known as Ca Voi, which it plans to drill in early 2013, subject to rig availability. The prospectivity of Ca Voi centres on the untested Oligocene play fairway, which Premier recognises as being geologically similar to that of the Cau Formation successfully explored in Blocks 12W and 07/03 in the Nam Con Son Basin to the south. A successful Ca Voi well would also de-risk multiple leads elsewhere on the block, including the nearby Swordfish and East Ca Voi prospects."

So fingers crossed for success at Ca Voi next year as that could make a number of other prospects there in 121 all that more attractive