Drillstem test confirms find off Vietnam

Ofshore staff

BANGKOK, Thailand -- PTT Exploration and Production Public Co. Ltd. subsidiary PTTEP Hoang Long Co. Ltd. says the second drillstem test from the TGT-5X discovery in the Vietnam 16-1 project has yielded 7,300 b/d of oil and 2.07 MMcf/d of gas through an 80/64-in. choke.

The appraisal TGT-5X well, spudded on Nov. 7 in the Te Giac Trang structure, was drilled to a TD of 3,405 m (11,171 ft).

This well is the fourth successful well of five drilled on the structure

PTTEP Hoang Long holds a 28.5% participation interest in the Vietnam 16-1 project. Petrovietnam Exploration and Production Co. leads the project with 41% stake, followed by SOCO Vietnam Ltd. with 28.5%, and Opeco Vietnam Limited with 2% interest.

12/18/2006