CRD-3X Appraisal Well in Vietnam Well Flows Oil

Pan Pacific Petroleum (Vietnam) Pty Ltd has been advised by the Operator of the Block 07/03 Production Sharing Contract in Vietnam that drill stem flow testing (DSTs) of three key Miocene reservoir sands encountered in the CRD-3X appraisal, well being drilled by “Ocean General” semi- submersible drilling rig, has been completed.

The results from the DSTs of these three sandstones reservoirs, which have not previously been flow tested, are summarised below;

First test: 4100 barrels of 31.8 deg. API oil per day plus 1.93 million standard cubic feet of gas per day, through a 40/64″ choke.

Second test: 2750 barrels of 26.4 deg. API oil per day plus 0.75 million standard cubic feet of gas per day, through a 40/64″ choke.

Third test: 1161 barrels of 17.6 deg. API oil per day plus 0.07 million standard cubic feet of gas per day, through a 32/64″ choke.

No water was produced in any of the tests.

The well is currently being sidetracked to test a structure within the CRD field to the south of CRD- 3X to evaluate the potential for additional net pay within the Miocene reservoirs.

The appraisal well and side track are designed to resolve resource uncertainties in the Ca Rong Do (CRD) oil and gas/condensate discovery and prove up sufficient recoverable volumes to justify a commercial development.

Partners in the block are:

Pan Pacific Petroleum (Vietnam) Pty Ltd 5%

Premier Oil Vietnam South (Operator) 30%

Vamex 25%

Mubadala Petroleum 25%

PetroVietnam Exploration and Production Corporation Ltd 15%

Premier Oil Vietnam South and Vamex were recently acquired by a wholly owned subsidiary of Talisman Energy Inc.

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Press Release, November 08, 2013