Premier Updates Ops at Vietnam Block 07/03

Premier, the operator of the Block 07/03 Production Sharing Contract, has advised that the CRD-2X appraisal well has set the 9 5/8 inch casing at 3100m BRT and at 6.00 am on March 10, was drilling ahead to a planned TD of about 3634m BRT. This interval will be evaluated by logging.

The information provided by logging CRD-2X is being integrated with the results of CRD-1X and this together with the information gained by deepening the well will be used to determine whether further operations will be undertaken.

Partners in the block are:

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