Carnarvon Petroleum Limited is pleased to announce the following update in relation to the L44/43 and L33/43 concessions in Thailand, in which Carnarvon holds a 20% interest.
As of 18 June 2014, the drill rig has arrived onsite and is now in the process of drilling the surface conductor.
Drilling of first well expected
The first well in this campaign is the L33-5A well, which was identified from 3D seismic data acquired in 2013 in the L33/43 concession. L33-5A is a deviated exploration well located to the southwest of the L33 production area.
The primary objective for the L33-5A well is to test the productive igneous reservoir, which is expected to be penetrated in a structurally high position bounded by a major northwest trending fault. A secondary objective is shallower sandstone zones, which are also expected to be encountered.
The operator is expected to take around three weeks to complete the drilling of the first well.
A joint venture for further drilling
Following on from the drilling of the first well, the joint venture will drill a further one to two wells in the WBEXT production area targeting development locations. Following this, additional development wells are planned in the L33/43 concession.
It is expected that between five to seven new wells will be drilled in this campaign.
The program is funded from ongoing operations, which are currently producing around 4000 bpd of oil.
Equity holders in the L33/43 and L44/43 Concessions are: Carnarvon Petroleum (20%), Eco Orient Energy (Operator, 60%), and Loyz Energy (20%).
Adapted from press release by Cecilia Rehn