Second DST at Thai Binh-1X Flows Gas

Singapore Petroleum Company says the second drill-stem test on the Thai Binh-1X well successfully flowed natural gas in the upper sand interval at the rate of approximately 24.4 million standard cubic feet per day through a 128/64" choke at the wellhead pressure of 514 psi. Condensate was produced at a rate of one barrel per million cubic feet of gas. This follows the success of the first drill-stem test conducted over the lower sand interval as reported last week.

On a combined basis, the well flowed at a total maximum rate of approximately 47.4 million standard cubic feet per day of natural gas from the upper and lower sand intervals through a 128/64" choke at an average wellhead pressure of 524 psi. Condensate was produced at an average rate of two barrels per million cubic feet of gas.

After completion of the testing operation, SPC and its partners intend to proceed to plug and abandon the well and to release the GSF Adriatic-XI jackup. Going forward, SPC and its partners will undertake technical works to evaluate this discovery in Block 102.

The well is located 50 kilometers south of Hai Phong City offshore Vietnam and was drilled in 28 meters of water.

SPC, through its wholly-owned subsidiary, SPC Vietnam (Blocks 102/106) Co. Ltd, holds a 20% participating interest in the Blocks.

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