Australian-based Neon Energy has announced its completion of resource assessment of offshore Vietnam Block (Block 105) by US based Netherland, Sewell & Associates (NSAI).

NSAI’s assessment of the seven gas/condensate leads estimate that three leads on the western side may contain oil.

The Block 105 joint venture will drill up to two exploration wells during 2012, each testing an independent hydrocarbon play with multiple targets.

NSAI estimates unrisked prospective resources ranging from 1.0 Tcf (low case) to 3.9 Tcf gas (best estimate) to 13.9 Tcf gas (high case) at the Cua Lo gas prospect.

The Song Ca-1 oil prospect has potential for either oil or gas, and NSAI estimate unrisked prospective resources for the oil case that ranges from 26.6 MMbbls (low case) to 129.8 MMbbls (best estimate) to 408.6 MMbbls (high case).

NSAI is currently completing an assessment of offshore Vietnam Block 120, and Neon will provide an update regarding prospective resources for that block during May 2011.