Premier Preps for Drill Stem Testing at Vietnam Block

Premier Oil Vietnam South B.V., the operator of the Block 07/03 Production Sharing Contract, has advised that preparations to undertake drill stem testing of hydrocarbon bearing sands in the Oligocene section which it was not possible to evaluate in CRD-1X are continuing.

CRD-2X has been planned to evaluate the oil and gas discovered in multiple stacked reservoir layers by CRD-1X with the aim of reducing uncertainty in whether the CRD structure contains sufficient volumes to support a potential development. The implications of the CRD-2X results will be advised when the well evaluation has been completed.

Partners in the block are:
Pan Pacific Petroleum (Vietnam) Pty Ltd (a wholly owned subsidiary of Pan Pacific Petroleum NL) 5%; Premier Oil Vietnam South B.V. (Operator) 30%; Vietnam American Exploration Company, LLC. (a wholly owned subsidiary of Pitkin Petroleum Plc) 40%; PearlOil (Ophiolite) Ltd. 15%; and PetroVietnam Exploration and Production Corporation Ltd 10%.

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