Vietnam

KrisEnergy Ltd., Singapore, and Enovation Resources Ltd., Hamilton, Bermuda, took a farmout from Neon Energy LTd,. Perth, on part of Block 120 in the Song Hong basin off central Vietnam.

By OGJ editors
HOUSTON, Mar. 25
– KrisEnergy Ltd., Singapore, and Enovation Resources Ltd., Hamilton, Bermuda, took a farmout from Neon Energy LTd,. Perth, on part of Block 120 in the Song Hong basin off central Vietnam.

KrisEnergy is to earn 40% interest and Enovation Resources 10% interest in part of the block by paying Neon’s past costs of $750,000 and up to $3 million of a 2,000 line-km seismic survey due to start in May 2010. Neon retains 50% interest.

Completion of the transaction is subject to approval by the Vietnamese government and
waiver of Petrovietnam’s preemptive rights.

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