"WB-N4 has confirmed the continuation to the north of the Wichian Buri North structure for the target F Sandstone and is therefore expected to increase estimates of oil reserves significantly," Carnarvon said.
Carnarvon said preliminary log interpretation indicates good quality sands in all cases with average porosities in excess of 24 percent.
The listed junior explorer said current operations are to complete all three new production wells. "Testing of the wells and bringing them online for production is pending delivery of equipment that has been held up due the port strike in the west coast USA," Carnarvon said. "The Joint Venture partners are now exploring ways of testing at least one of the wells as soon as possible."
Carnarvon has oil and gas reserves and production in the Wichian Buri Oil Field in Thailand, and reserves in Papua New Guinea and the North West Shelf of Australia. The SW1A Joint Venture consists of Carnarvon Petroleum NL (40%) and Pacific Tiger Energy Inc (60% - operator).
