vietnam block 105

The commentary in yesterdays AR highlights that the independently assessed resource which was based on 2D data could get a further upgrade as a result of the new 3D data. With at least two new zones I expect an upgrade at least of 10%. Heres the relevant report comment:

Cua Lo is a very large gas prospect for which Netherland Sewell & Associates assess a gross recoverable prospective resource of up to 13.9 TCF. This assessment was based upon interpretation of two prospective zones on the 2D seismic available at the time.

Subsequently the 3D seismic data has helped identify additional prospective zones, which may result in an increase in prospective resources. The prospect is on trend with a number of Vietnamese gas discoveries and exhibits analogous seismic characteristics to the adjacent 3.5TCF Dong Fang gas field.{more follows from Neon website)

Both Cua Lo and Dongfang are adjacent to an extensive and deep hydrocarbon source "kitchen". The main structure at Dongfang hosts reserves of 3.5 TCF gas within fine grained Pliocene clastic reservoirs that have produced at individual well rates of up to 168 mmscfd (million standard cubic feet per day) of gas.

Prospective reservoir zones at Cua Lo may be of superior quality to those at Dongfang; being coarser grained due to a more proximal location relative to the Miocene-Pliocene sediment source.

This is seriously big, roll on the drill.