Carnarvon JV Tries for 2 Onshore Thailand Blocks

Carnarvon Petroleum Ltd is pleased to announce that it has applied to the Department of Mineral Fuels in Thailand for concession rights in petroleum exploration and production for two areas described as Blocks L52/50 and L53/50 onshore Thailand in the Surat-Khiensa Basin.

Pearl Oil (Petroleum) Ltd has submitted the bid as operator on behalf of Pearl and Carnarvon, each company participating at a 50% equity level. From the DMF, it is known that no other applicants have applied for these blocks. The L52/50 and L53/50 concessions are located in the Surat Thani province, onshore on the Thailand peninsular.

The combined area of the two blocks is large, comprising approximately 6,950 square kilometers; however both are lightly explored, with only two deep wells and limited seismic data available.

"L52/50 and L53/50 in the onshore Surat-Khiensa Basin represent longer term exploration potential complementing the near term potential and oil production from Carnarvon's SW1A, L33/43 and L44/43 concessions in the onshore Phetchabun Basin and the mid term potential of recently awarded block L20/50 in the onshore Phitsanulok Basin," Carnarvon's Managing Director, Ted Jacobson said. "With minimal exploration over the area, little public knowledge is available about the Surat- Khiensa Basin. However, work completed to date and Carnarvon's regional knowledge suggests this is an area with good potential for hydrocarbon exploration. Carnarvon is particularly excited to be working with Pearl, an independent oil and gas company with exploration and production (E&P) activities focused exclusively in South East Asia. Pearl is an active operator within onshore Thailand as well as offshore in the adjacent Gulf of Thailand."