Neon Energy Limited is pleased to announce that the Company has accepted a binding offer from a third party to farmin to Block 120 and Block 105-110/04, offshore Vietnam.
Due to confidentiality obligations Neon is not in a position to provide a detailed summary at this time. However under the agreed terms the farmout will deliver an expanded work programme in both blocks with no substantive cost to Neon, with the Company retaining a material working interest.
The offer remains subject to finalisation and execution of a Farmout Agreement, which the Company anticipates will be executed during the first quarter, 2012. The agreement will be conditional upon the usual approvals required from Petrovietnam and the Vietnamese Government.
A further announcement will be made upon execution of the Farmout Agreement.
This article is for information and discussion purposes only and does not form a recommendation
to invest or otherwise. The value of an investment may fall. The investments referred to in this
article may not be suitable for all investors, and if in doubt, an investor should seek advice from
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