AWE Announces Spudding of Tuong Vi Well Offshore Vietnam

Australian Worldwide Exploration Limited ("AWE") reported that the Tuong Vi (06/94-TV-1X) well in Vietnam spudded on June 1. As of this morning the well has reached a depth of 219m and 30" casing is being run.

The well is located in the 06/94 block in the Nam Con Son Basin, approximately 400 kilometers from the coastline of Vietnam. The primary target of the well is the oil potential of the Dua Formation sandstones with secondary targets in the Nam Con Son Carbonate and Cau sandstones.

Joint Venturers in 06/94 are:

  • AWE Vietnam Pte. Ltd 23.33%
  • PearlOil (Nam Con Son) Limited (Operator) 33.34%
  • Lundin New Venture B.V. 33.33%
  • Serica Nam Con Son B.V. 10.00%