|Carnarvon encouraged by latest Thai oil flows|
|Tuesday, 5 June 2007|
THAILAND-focused explorer Carnarvon Petroleum says good oil flows from its Na Sanun-4 appraisal well has encouraged the company and its joint venture partner Pan Orient to further appraise the oil field.
During flow-testing, the Na Sanun-4 well flowed at a stabilised rate of 686 barrels of oil per day, with 100-150 cubic feet of gas per barrel and a 0.1% water-cut, according to the Perth-based junior.
"We are very pleased with the results of NS-4," Carnarvon chief executive Ted Jacobson said.
"The production rates announced are exceptional for a shallow onshore well drilled and completed with a 'slim hole' design," he said.
However, drilling was terminated prematurely at a depth of 952m, following severe lost circulation when the well encountered the upper portion of the first target volcanic zone. Four deeper volcanic targets will be evaluated later in the drilling program, Carnarvon said.
Jacobson said the "very good" oil flow rates and the minimal water recovery from NS-4 provided further evidence that the flow testing results from the 1994 Na Sanun-1 well were not valid due to a poor cement job.
As a result, he said the JV had agreed to modify the well program to further appraise the Na Sanun oil field, by re-drilling the NS-1 well and drilling two more appraisal wells.
"This is certainly a good result with two successful wells out of three drilled into fractured volcanics within the Na Sanun area and supports the decision by the joint venture to focus the 2007 well program on the fractured volcanic play," Jacobson said.
"With up to 35 more wells to go in the current program, we believe this year will be very exciting."
Meanwhile, Carnarvon said the JV was awaiting the arrival of a second Aztec rig, which is scheduled to begin drilling operations in the next two to three weeks.
This rig will begin drilling the two appraisal wells, L44 and L44-H, to the north of the POE-9 oil discovery, now called the Na Sanun East oil field.
These two wells have the potential to significantly increase the extent of the field, according to Carnarvon.
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