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MENAFN - ProactiveInvestors - Australia - 22/11/2012

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(MENAFN - ProactiveInvestors - Australia) Carnarvon Petroleum (ASX: CVN) and ECO Environmental Investments have spudded an infill well at their Na Sanun East (NSE) Central oil field onshore Thailand.

The NSE-B2 well will be drilled to a total depth of 900 metres targeting the main volcanic in a structural high position.

This is interpreted to have about 106 metres of pay based on new interpreted analysis of 3D seismic data.

It is expected that, if successful, the well will be placed on production within five to seven days following the completion of the well and production from this well is planned to be restricted to preserve flow rates and maximise recovery rates.

A success will also bring the company closer to its targeted output of 3,000 barrels per day of oil by the end of the year.

The NSE Central reservoir has produced around 5 million barrels of oil to date and based on the December 2011 Gaffney Cline Reserve Report, still hold about 2 million barrels of proved and probable reserves.

Depending on the results of this well, a further infill well may be drilled into the NSE reservoir based on revised seismic interpretation of fracture analysis this year.

Carnarvon has a 40% interest in the field.

 






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