Mitra Energy & PetroVietnam Sign PSC for Two Blocks Offshore Vietnam

Mitra Energy Limited has signed a Production Sharing Contract with PetroVietnam for offshore Blocks 28 & 29/03. The blocks are located in the Western Nam Con Son basin, offshore Vietnam, covering an area of around 13,000 square kilometers in water depths of approximately 50 meters.

MEL feels that the prospectivity of the as yet undrilled Western Nam Con Son basin is on par with that of the Nam Con Sjon basin proper and, as such, is delighted to have secured the whole of the sub-basin within the new PSC area.

Mel believes that this important, high quality exploration asset will augment its existing portfolio in Indonesia and the Philippines, thus broadening the base for the company's future growth.

MEL very much looking forward to working with PVN in this exciting area, with a view to building a lasting presence in Vietnam and a strong long-term relationship with PVN.