26-06-09 Pan Pacific Petroleum's (PPP) has a 15 % stake in an oil discovery off the coast of Vietnam -- the Red Emperor well -- where testing at two reservoir zones have produced flows at a combined rate of 3,265 barrels of oil and 8.1 mm cf of gas a day.
Research head at McDouall Stuart, John Kidd, said: "That's a reasonable find from a single well -- and to have a flow rate like that is very promising." No water was found in either zone as the explorers drilled to a depth of 3,810 m.

The Vietnam venture includes Britain's Premier Oil, Vietnam American Exploration and a unit of Abu Dhabi-based Mubadala Development.
Drilling began at the Rong Do exploration well in Block 07/03 in May. The area was opened up for drilling by a 2003 accord between the Indonesian and Vietnamese Governments.

PPP said a 3D survey was planned to define the potential of the Red Emperor discovery and nearby structures, and to determine future exploration and appraisal activity.
"The discovery of oil and gas is veryencouraging for future exploration in the block which has multiple leads and prospects," the company said.
A second exploration well is planned for the final quarter of this year.

PPP said in May that it aimed at a balanced exploration portfolio in proven basins, with a priority on low-medium, rather than high-risk prospects.
Vietnam was an exciting first step.