Pan Pacific Petroleum NL (PPP) reported that on May 19, the Ca Rong Do (Red Emperor) well within Block 07/03 Production Sharing Contract, Offshore, Vietnam was at a measured depth of 2046 m BRT, and had set the 13 3/8" casing. The operation is awaiting the repair of the rig’s mud pump modules following which the drilling of the 12 1/4" hole will commence.

The well was spudded on May 6, 2009 and is being drilled using the semisubmersible drilling unit "Hakuryu-5" in a water depth of 319m. The well has a planned total measured depth of approximately 4010m BRT.

Block 07/03 covers 4,915 km2 in the prospective Nam Con Son Basin, and is adjacent to block12W which contains the Chim Sao and Dua Oil Fields.

Other partners in the block are Vietnam American Exploration Company, LLC. (Vamex), and PearlOil (Ophiolite) Ltd (Pearl). Upon completion of Pan Pacific Petroleum (Vietnam) Pty Ltd's (PPPV) farm-in obligations, the participating interests will be:

PPPV 15% (100% wholly owned subsidiary of PPP) Premier 30% (Operator) Vamex 40% Pearl 15%

Tags: Pan Pacific Petroleum