Carnarvon and Sun Resources have each applied for a 50% participating interest in the Concession if granted. Carnarvon has applied as the Operator.
The Concession covers an area of 3,947 km≤ and is located approximately 50 km west of Carnarvonís current permits onshore Thailand. The Concession is also around 30km southeast and on trend with the large onshore Sirikit oil and gas fields, which have produced over 150 million barrels of oil to date and are still producing at 20,000 barrels of oil per day (bopd). (refer attached map).
The DMF is now considering the application and the Joint Venture will be informed of the status of the bid in due course.
Carnarvonís Managing Director, Mr Ted Jacobson, commented:
"We have been encouraged by our successful operations in our two exploration permits in the adjacent Phetchabun Basin to seek out other similar opportunities onshore Thailand. Our initial work indicates that the application area L20/50 possesses very similar geology to that in the Phetchabun Basin. The Concession is well located being in close proximity to the large Sirikit oil field to the north, with a rail line and oil pipeline passing through the Concession allowing quick tie-in to existing infrastructure in the case of a discovery. If an exploration permit is granted, Carnarvon will operate the joint venture."
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