Pan Pacific Petroleum (ASX: PPP) is poised to participate in the drilling of up to three wells in the Nam Con Son Basin offshore southern Vietnam.

The Ocean General semi-submersible drilling rig is now on tow to Block 121, operated by Origin Energy (ASX: ORG) to drill the Ca Voi-1X well targeting the large Whale Prospect.

Ca Voi-1X is expected to spud during the first week of June.

This will be followed by two wells in the Block 07/03, operated by Premier Oil (LON: PMO).

Pan Pacific has a 15% interest in Block 121, which contains significant follow up potential, while Block 07/03 (Pan Pacific 5%), is adjacent to Block 12W which contains the Chim Sao (50 million barrels of oil equivalent) and Dua Oil Fields as well as the Lan Tay and Lan Do Gas Fields (2 trillion cubic feet) in Block 06-1 to the north.

Block 07/03 also contains the CRD-1X oil and gas discovery well that was drilled in June 2009 and produced 3,265.4 barrels of oil and 8.1 million standard cubic feet of gas per day from two zones in the Miocene sands
 

Source: proactiveinvestors