Fair weather eases Vietnam 2D campaign

Neon Energy has completed a 2D seismic survey in block 120 and block 105-110/04 offshore Vietnam.

Offshore staff

WEST PERTH, Western Australia -- Neon Energy has completed a 2D seismic survey in block 120 and block 105-110/04 offshore Vietnam.

The Aquila Explorer seismic vessel, contracted Seabird Exploration, acquired the 3,827 km (2,378 mi) of data in a program finishing 16 days ahead of schedule.

Neon says it planned ahead for this operation to ensure the campaign was conducted during Vietnam’s fair weather season. The combination of benign conditions and the 6-km (3.7-mi) solid streamer recording cable appear to have brought to a significant improvement in seismic quality, compared to the existing 1993 data-set.
Following processing and interpretation of the new data, Neon will aim to ranking prospects for drilling.

The company expects its share of the seismic acquisition and processing commitment in both blocks to be fully funded by farm-ins. Post farm-out approval, interests in the two blocks will be as follows:

Neon Energy 50%
KrisEnergy 40%
Enovation Resources 10%.


06/16/2010

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