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MENAFN - ProactiveInvestors - Australia - 17/12/2012

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(MENAFN - ProactiveInvestors - Australia) Carnarvon Petroleum (ASX:CVN) is on target for drilling its NSE-H4 well with the well reaching a current depth of 865 metres in a planned 1,014 metre well.

The well is likely to take a total of 10 days to drill and a further 7 days to test if successful. The well is in the process of being prepared to run and cement the 9 and 5.8 inch casing before drilling ahead to the planned total depth in 8 and 1.2 inch hole size.

The well is targeting the NSE main volcanic in an area where wells have produced up to 1,200 barrels of oil per day gross and recovered around 700,000 barrels of oil.

If the well is successful, it will be placed into production within 7 days following the completion of the well.

Production from this well is planned to be restricted to preserve flow rates and maximise recovery rate

Also, depending on the results of this well, one further infill well into the NSE reservoir based on revised seismic interpretation of fracture analysis is considered for the 2012 drill program.

 






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