POE-1 is 700m up-dip of POE-2, which last week was cased for production testing, and is also up-dip of the currently producing wells Wichian Buri-N4 and Wichian Buri-N6.

Carnarvon said the POE-1 well was designed to intersect a bright seismic amplitude event on the reprocessed 3D seismic data, interpreted to be an improvement in the sandstone reservoir at this location.

The well will be deepened to penetrate both the currently producing “F” sandstone and the underlying “G” sandstone, which may have additional potential for economic oil reserves.

As with POE-2, the POE-1 well will be logged and cased ready for production testing once drilling is complete.

A smaller and more cost-effective service rig is being contracted to complete all six wells in the program, for long-term production testing to start in early September.

Carnarvon expects POE-1 will take 12 days to reach a planned total depth of 1251m.

Drilling pads are also being prepared for a further four wells in this Phase 1 program.