Tuong Vi-1 Drilled to Total Depth, JV Sees No Signs of Hydrocarbons

Australian Worldwide Exploration Ltd.

AWE reported on behalf of the joint venture in 06/94 that the Tuong Vi-1 well, offshore Vietnam, has been drilled to its total depth of 2,762 m measured depth. Wireline logs acquired to date indicate that no significant hydrocarbons are present in good quality sands in the objective section.

Upon completion of these operations, the well will be plugged and abandoned. 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 was 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%