Testing Operations Begin at WBEXT-2C Well in L44/43 Concession

Australia-based Carnarvon Petroleum Limited provided the following update on the 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 testing operations Aug. 5 and as at Aug. 11 the well was flowing approximately 330 barrels of oil per day (bopd) with an associated 700 barrels of water per day (gross). The well has now produced around 1,000 barrels of oil over the past four days.

The well was completed as a 262 feet (80 meter) open hole section covering around 131 feet (40 meters) of the WBV2 target igneous and a minor but deeper 33 feet (10 meter) intrusive igneous.

Two shallower igneous intervals encountered while drilling will be considered for testing once testing of the deeper section has concluded.

This well was drilled within the Wichian Buri Extension production licence, accordingly all oil produced from testing operations will be sold as part of ongoing joint venture operations.

Average gross field production rates over the past three days has been around 1,600 bopd (640 bopd net to Carnarvon).

Further updates will be provided as testing operations progress.


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