Drilling Completed at CRD 3X Well Offshore Vietnam

Pan Pacific Petroleum (Vietnam) Pty Ltd has been advised by the Operator of the Block 07/03 Production Sharing Contract that the CRD-3X sidetrack being drilled by “Ocean General” semi-submersible drilling rig has reached total depth (TD) at a measured depth of 3629 m BRT (below rotary table).

The CRD-3X sidetrack has been drilled to test a structure within the CRD field to the south of the CRD-3X appraisal well to evaluate the potential for additional net pay within the Miocene reservoirs. The sidetrack will now be evaluated by wireline logging.
The appraisal well and side track are designed to resolve resource uncertainties in the Cá Rồng Đỏ (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.