Eni Begins Drilling on Vietnam Exploration Well

August 12, 2013

Neon Energy Limited (ASX: NEN), a partner in Eni's Cua Lo project in Vietnam, has announced that the Cua Lo-1 exploration well, located in Block 105-110/04 (“Block 105”) offshore Vietnam, was spudded on 11 August 2013.

According to the company, the well is designed to test the large Cua Lo gas prospect, which comprises five clastic reservoir targets ranging in age from Lower Pliocene to Upper Miocene.

It is being drilled by the Ensco 107 jackup rig in a water depth of 76 metres, to a planned Total Depth of 2,826 metres.

The respective working interests of the joint venture parties in the Block 105 PSC are as follows:

Neon Energy (Song Hong) Pty Ltd 25%
Eni Vietnam B.V. (Operator) 50%
KrisEnergy (Song Hong 105) Ltd 25%

The company’s next scheduled announcement will occur when drilling has reached the 13 3/8” intermediate casing point, situated above the first of the five objectives.

Source: Neon Energy, 2013.