ECO Spuds WBEXT-2C Appraisal Well in Thailand

Australia's Carnarvon Petroleum Limited provided shareholders with the following update in relation to the L44/43 Concession in Thailand, in which Carnarvon holds a 40 percent interest.

At 2:00 pm July 16 the operator accepted the Elite-01 drilling rig and proceeded to spud the WBEXT-2C deviated appraisal well at 5:40 pm that day.

The WBEXT-2C well is planned to penetrate the Wichian Buri I and II fractured igneous reservoirs in a three way dip closed structure bounded by a major north/south fault.

The well has a projected total measured depth of around 4,199 feet (1,280 meters), with the Wichian Buri I igneous interval being interpreted at 2,461 feet (750 meters) true vertical depth and the Wichian Buri II igneous interval being interpreted at 3,182 feet (970 meters) true vertical depth.

The WBEXT-2C well is located within the existing Wichian Buri Extension production license and is projected to take around 12 days to drill on a trouble free basis.

Hong Kong-based ECO Environmental Investments Limited (ECO), a wholly-owned subsidiary of the Hong Kong and China Gas Company Limited, is operator of the L44/43 Concession, with 60 percent interest.

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