vietnam block 07/03 appraisal drilling update

Dear All,

Announcement just out:-

Vietnam Block 07/03 Appraisal Drilling Update

Pan Pacific Petroleum (Vietnam) Pty Ltd have been advised by the Operator of the Block 07/03 Production Sharing Contract, that at 0600 hours on the 1st October the CRD-3X appraisal well being drilled by “Ocean General” drilling rig was at a measured depth of 2937m BRT (below rotary table).

The well has completed the planned coring of the Miocene reservoir sands and drilling through the Miocene objective interval. It is now intended to undertake evaluation of the Miocene reservoir sequence by wireline logging and possible testing, subject to results.

The well has a planned total measured depth of approximately 3,686m BRT.

The well is designed to resolve resource uncertainties in the Cá R?ng Ð? (CRD) oil and gas/condensate discovery and prove up sufficient recoverable volumes to justify a commercial development. The field contains oil and gas in the Miocene sands and condensate rich gas in the underlying Oligocene sands and the well will evaluate both sections.