The Tho Chu discovery resource estimate was independently audited by LR Senergy (April 2016 CPR), with a Gross Contingent Resource of 75.4 MMboe (2C) and 194.5 MMboe (3C). The Gross Contingent Resources for the U Minh Field were 11.3 MMboe (2C) and 16.3 MMboe (3C). The Vietnamese government technical audit (Reserve Assessment Report or RAR) for the U Minh Field was presented to the Petrovietnam Reserves Committee on November 11, 2015. Formal Petrovietnam written approval of the RAR was received on 6th January 2016. Outline Development Plan (ODP) is currently being reviewed by PVN for comment prior to submitting to the Ministry of Trade for approval.
Five high-graded prospects have been identified from 3D seismic data interpretation and are located in the southeastern part of Block 51. Their traps are structural and stratigraphic within Miocene fluvial channel sandstone reservoirs. Prospect evaluations were independently audited by LR Senergy in April, 2016. The total gross unrisked Prospective Resource for the five prospects is reported as 70 MMboe (Pmean) to 110 MMboe (P10). In addition, areas of Tho Chu Field extension have been defined and total best estimate Gross Prospective Resources for the potential field extensions is 560 Bscf (net of CO2) plus 10 MMstb liquids, recoverable. Four smaller prospects and four leads were also identified from the seismic interpretation studies.