Carnarvon Petroleum (ASX: CVN) has drilled the seventh and final well in the first phase development of WBEXT 1B fault block in Thailand, which targets total production of 800 barrels of oil per day.
These seven wells will be combined with the three previous wells to make up the first stage of development for WBEXT 1B.
A workover rig is being used to complete the wells before individual well zones are tested to determine the optimum development scheme to take into account positioning of water injection and matching of injection and production wells.
It is anticipated that well testing will be completed and water injection pumps installed in December 2012 and then the WBEXT 1B development will be placed online.
Depending on production results, a further 5 wells are contingent for this fault block for early 2013.
The WBEXT 1B development is a vital piece of Carnarvon and its Thailand operator ECO Environmental Investments goal of delivering targeted output of 3,000 barrels per day of oil by the end of the year.
Carnarvon has a 40% interest in the field.
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