(MENAFN- ProactiveInvestors - Australia) Carnarvon Petroleum (ASX: CVN) has brought 2 new onshore Thailand wells into production and expects further increases soon.
The NS-4A and NS-9A wells are currently flowing oil at 50 barrels per day (bpd) and 70bpd respectively.
NS-4A flows oil from a thin sandstone interval above the main volcanic productive zone at Na Sanun.
Carnarvon said that while this interval has just 4 metres of net oil pay, it appears on seismic data to cover a substantial area of around 1.6 square kilometres.
This new discovery has been successfully tested in the NS-4A and NS-4 workovers, and 2 immediate follow up wells are planned for this sandstone.
Meanwhile, the company expects to soon receive approval for long term use of surface lands held by the Agricultural Land Reform Office of Thailand.
This will allow about 465bpd of oil production that has being shut in to be brought back on stream. This is expected to occur in mid-August.
Further production could come from its 10-15 well sandstone development program in L44/43 that is ready to start once approval is received.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.