‘Songa Mercur’ Spuds Ca Ngu-1 Well (Vietnam)

KrisEnergy Ltd., an independent upstream oil and gas company, announces that on 21 October 2013, the Songa Mercur semi-submersible rig began drilling the Ca Ngu-1 exploration well in Block 120 offshore central Vietnam.

The Ca Ngu-1 exploration well is planned to reach approximately 1,500 metres total vertical depth subsea and is intended to test the Ca Ngu oil and/or gas prospect. Water depth at the Ca Ngu-1 location is approximately 270 metres.

“We originally acquired an interest in Block 120 in 2010 and following 2D and 3D seismic acquisition and interpretation, we are excited to be finally drilling Ca Ngu-1, one of several prospects in the contract area. The single well to have been drilled in the current boundaries of Block 120 was in the early 1990s and encountered oil,” said Chris Gibson-Robinson, KrisEnergy’s Director Exploration & Production.

Block 120 covers an area of 8,574 sq km overlying the Quang Ngai Graben and the Tri Ton Horst where water depths range from 50 metres to 1,100 metres. The graben connects the Song Hong and Qiongdongnan basins in the north to the Phu Khanh Basin in the south. KrisEnergy holds a 25% working interest in Block 120 and is partnered by Eni Vietnam B.V. as the operator with 50% working interest and Neon Energy (Song Hong) Pty Ltd with 25%.

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Press Release, October 22, 2013