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ENSCO 107 En Route to Cua Lo Well

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Australia's based Neon Energy Limited reported the jackup ENSCO 107 (400' ILC) has mobilized for Block 105-110/04 (Block 105) in the central Song Hong Basin, offshore Vietnam, and is en route to the Cua Lo exploration prospect.

The jackup was released by the previous operator Mitra Energy July 22, and is expected to arrive at the Cua Lo-1 location around Aug. 1. The Cua Lo-1 well is expected to spud around Aug. 5.

Neon acquired a 90 percent interest as operator of the Block 105 Production Sharing Contract in early 2010, and subsequently farmed down to KrisEnergy Ltd in order to fund the 2D seismic work commitment. Neon and KrisEnergy then farmed down to Eni S.p.A. in 2012, in order to fund a discretionary 3D seismic program and the drilling of the commitment exploration well.

Eni Vietnam B.V. is the operator of Block 105, with 50 percent interest, while Neon Energy (Song Hong) Pty Ltd and KrisEnergy (Song Hong 105) Ltd each has 25 percent.



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