Neon Energy Gets Vietnamese Approval for Eni Farm out

Neon Energy has announce that its farmout of two Vietnamese exploration blocks, 120 and 105-110/04 to Eni has received the full and final approval of Petrovietnam and the Government of Vietnam.

The Italian energy major will be assigned a 25% stake in both blocks from Neon and another 25% from Singapore’s Kris Energy. Neon and KrisEnergy will each retain a 25% interest.

Netherland Sewell & Associates  Inc. completed an assessment of both blocks. Block 120 may have between 633 million and almost 8 billion barrels of oil within 12 leads while Block 105 could contain between 1.7 trillion cubic feet (Tcf) and 21.4Tcf of gas in seven leads.