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Abandonment of 121-CV-1X Well Taking Longer than Planned

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Pan Pacific Petroleum NL announced that Origin Energy (Song Hong) Pte Limited (Origin), the Operator of the Block 121 Production Sharing Contract, offshore Vietnam, has reported that abandonment of the 121-CV-1X exploration well drilled using the Ocean General (mid-water semisub) is still on-going.

The company said the abandonment was taking longer than anticipated due to operational challenges. The 121-CV-1X well, drilled late June to evaluate the (Whale) Ca Voi prospect did not find commercial hydrocarbons and encountered minor gas indications.

"On release the rig will next move to Vietnam Block 07/03 to drill the CRD-3X appraisal well," Pan Pacific Petroleum said in a press release.

Pan Pacific Petroleum's unit Pan Pacific Petroleum Vietnam 121 holds a 15 percent participating interest in Block 121, while Origin - the operator - has 45 percent participating interest, with the remaining 40 percent held by Premier Oil.



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