Soco Spuds Te Giac Hong Well Offshore Vietnam

SOCO Vietnam has spud the Te Giac Hong exploration well on Block 16-1 in the Cuu Long Basin offshore Vietnam using the GSF Adriatic XI jackup. The well will evaluate the "L" North prospect's Miocene and Upper Oligocene sections that are productive in the Te Giac Trang discoveries. Drilling is currently at 1,680 meters and is expected to take approximately 25 days in total.

PetroVietnam's PVD-1 is back to drilling the Te Giac Den-1X ("TGD-1X") well on the "E" prospect, also on Block 16-1, after being taken off line due to a series of control system failures, which potentially could have compromised safe continuation of drilling operations. Following advice from PetroVietnam Drilling and the control system supplier, drilling operations were suspended for approximately 18 days while the control system problems were diagnosed. The problems have been corrected and the control system amended leading to recommissioning of the rig. Barring further complications, the rig is expected to reach the preliminary target depth in approximately 10 days. Logging should add approximately a week to the total elapsed time, after which time the well will be suspended.

High pressure testing equipment is expected to be available in August. Should testing be required, the GSF Adriatic XI will immediately test the TGD-1X well after moving off its drilling location elsewhere on Block 16-1.

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