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Carnarvon Petroleum Kicks Off Thailand Oil Drilling Campaign

Carnarvon Petroleum (ASX:CVN) could enjoy increased oil production from its Thailand assets with the spud of the first of up to seven new wells.

Operator Towngas (60%) is drilling between five to seven wells in L33/43 concession and the WBEXT production area in the L44/43 concession.

The drill rig is in the process of drilling the surface conductor of the L33-5A well, which was identified from 3D seismic data acquired in 2013 in L33/43.

L33-5A is a deviated exploration well located to the southwest of the L33 production area.

It is designed to test the productive igneous reservoir, which is expected to be penetrated in a structurally high position bounded by a major North-West trending fault. It also targets shallower sandstone zones as a secondary objective.

The well is expected to take about three weeks to complete.

Following on from the drilling of the first well, the joint venture will drill a further one to two wells in the WBEXT production area targeting development locations. Following this, additional development wells are planned in the L33/43 Concession.

The program is funded from ongoing operations, which are currently producing about 4,000 barrels of oil per day.

Carnarvon has a 20% interest in the L33/43 and L44/43 concessions.

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