Neon Updates on Drilling at Ca Ngu-1 Well in Block 120 off Vietnam

Neon Energy Limited, an Australian-based petroleum exploration and production company, provided Wednesday the following update regarding drilling operations at the Ca Ngu-1 exploration well, located in Block 120, offshore Vietnam.

As of Nov. 26 drilling has reached the 13.375 inch casing point, at a depth of 1,991 feet (607 meters). Once casing is set, Operator Eni will drill ahead through the upper objectives, which are stacked clastic reservoirs of Pliocene age.

Operations to date have been affected by exceptionally severe weather and related ocean conditions, which postponed installation of the 30 inch conductor pipe and the permanent guide base. Neon understands that the region’s typhoon season is now over, and anticipates that operations can now progress as originally planned.

The next announcement is scheduled to occur at the 9.625 inch casing point, located above the Miocene carbonate objective.

The respective working interests of the joint venture parties in the Block 120 PSC are as follows:

  • Neon Energy (Song Hong) Pty Ltd: 25 percent
  • Eni Vietnam B.V. (Operator): 50 percent
  • KrisEnergy (Song Hong 105) Ltd: 25 percent

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