Santos Strikes Oil

Wednesday, July 05, 2006
According to reports, the Australian oil exploration company Santos announced an oil and gas discovery at the Dua-4X exploration well currently being drilled in exploration Block 12E, offshore of Vietnam. Initial tests at the Dua-4X and Dua-4X ST1 wells, operated by Premier Oil, discovered oil and another well is to be drilled to evaluate reserves in the southern part of the field, said a Santos report. Santos have agreed in April this year to take a 37.5% interest in two Vietnam exploration permits - Block 12E and Block 12W. Dua-4X was drilled down-flank from the 1974 Dua-IX disco very well that produces: 1,500 barrels of oil per day. Following the intersection of hydrocarbons in the Dua 4X,vprineal well, a sidetrack has been drilled (Dua-4X ST1) to provide further geological information.

Wireline testing of both Dua-4X and Dua-4X ST1 recovered oil samples, core and pressure data to help define the quantity and quality of hydrocarbons within the northern flank of the Dua structure. A second geological sidetrack, Dua-4X ST2, will now be drilled to evaluate potential gas and oil reservoirs in the southern fault block of the Dua structure. Following completion of Dua-4X ST2, the 12E-CS-lX well will be drilled on the Blackbird prospect to explore a large tilted fault block updip of a pre-existing well (12E-LK-1X) which showed good initial results. Santos managing director John Ellice-Flint was quoted by overseas sources as saying that this is an encouraging start to the company's Vietnam drilling programme in Block 12. On completion of a recent co-operation arrangement, Santos and Premier will each hold 37.5% of the Vietnam fields. The remainder is held by Delek Energy, a subsidiary of Israel's Delek Group DELKG.TA. (Source: Vietnam News)

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