Latest news announcement this morning on the NZX indiocates some good positive results from the further testing of the Vietnam well. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Vietnam Block 07/03 Drilling Update 11 April 2011
Stock Exchange Announcement 11 April 2011 Vietnam Block 07/03 Drilling Update Premier Oil Vietnam South B.V. (?Premier?), the operator of the Block 07/03 Production Sharing Contract, has advised that the CRD-2X appraisal well has been drilled to a TD of 3785m MDRT, and two drill stem tests of the hydrocarbon bearing sands in the Oligocene section have been conducted. The first zone tested flowed gas and condensate at rates of 9.7 MMSCFD and 870 BOPD respectively through a 40/64? choke. The second zone tested flowed gas and condensate at rates of 17 MMSCFD and 1730 BOPD respectively through a 56/64? choke.
CRD-2X has been planned to evaluate the oil and gas discovered in multiple stacked Miocene and Oligocene reservoir sands by CRD-1X in 2009 with the aim of reducing uncertainty in whether the CRD structure contains sufficient volumes to support a potential development. CRD-1X tested two zones in the Miocene sands which flowed oil at a combined rate of 3,265.4 BOPD plus 8.1 MMSCFD, through a 48/64? choke, with no water. However, it was not possible to flow test the Oligocene sands at that time. The positive results from the testing of the Oligocene section in CRD-2X are very encouraging. The well will now be sidetracked to further evaluate the distribution of hydrocarbons in the Miocene sands. An update will be provided when the results of the sidetrack have been fully integrated with the other well results. <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
So certainly good additional hydrocarbons to add to those previously found in CRD-1X
PPP Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
