Carnarvon Updates on Drilling at WBEXT-2C Well

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Carnarvon Petroleum Limited gave an update on drilling operations at the WBEXT-2C well in the L44/43 Concession in Thailand, in which Carnarvon holds a 40 percent interest.

The WBEXT-2C well commenced drilling operations July 16. As at 06:00 hours July 29 the well was preparing to run casing to complete the well for testing operations.

The well reached total depth of 4,052 feet (1,235 meters) Measured Depth (MD) or 3,278 feet (999 meters) True Vertical Depth July 27.

The well encountered the WBV1 target igneous at around 2,953 feet (900 meters) MD as prognosed, and oil shows were interpreted across this 66 feet (20 meters) interval.

The WBV2 target igneous was encountered at around 3,937 feet (1,200 meters) MD as prognosed, and while gas shows were interpreted there were no oil shows.

Two shallower igneous intervals were encountered with good indications of permeability.

The well will now be completed for testing. Due to this well being drilled within the Wichian Buri Extension production license, after cleaning up and successful testing of the well, it will be placed into production.

The testing will commence with the deepest igneous sections and is anticipated to take some weeks to complete testing of all reservoir horizons encountered.

Further updates will be provided as testing operations progress.

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