The board change at Pacific Tiger came about after an action group representing over 20% of the stockholders called for the existing board, including the president and chief executive officer, to resign.

Upon learning of the board changes in June, Carnarvon Petroleum chairman, Andrew Shelton, supported the move.

“We welcome the smooth transition and look forward to working with the new board and

management of Pacific Tiger to further expand the operations of the Wichian Buri Oilfield in Thailand.”

Following the changes the partners appointed Navigator Resource Management to undertake a review of the field operations in central Thailand and the performance of the most recently drilled wells, N7 and N8.

In April initial production rates from the N8 well alone were in the range of 150-220 barrels of oil per day (bopd) while N7 continued to clog when put on pump with operator Pacific Tiger reporting that both would be considered as producers once cleaned of mud.

However, overall production from the oilfield continues to be around 200 barrels of oil per day despite remedial action in the form of a solvent wash on N7.

Wireline logs acquired during drilling indicate that the wells did encounter significant volumes of oil and should be able to produce at higher levels.

Once the review is completed, Carnarvon and Pacific Tiger will determine the preferred options for further remediation of the N7 and N8 wells, and for the next phase of development of the oilfield.

Two assessments of the field’s proved plus probable reserves have estimated between 10 and 23 million barrels of recoverable oil.