Carnarvon Petroleum (ASX: CVN) and operator Towngas have spudded the WBEXT-2C deviated appraisal oil well in the producing L44/43 Concession onshore Thailand.
Oil from the company's concessions is transported by road, direct to the refinery maintaining a low cost, scalable operation.
WBEXT-2C is planned to intersect the Wichian Buri I and II fractured igneous reservoirs in a three way dip closed structure bounded by a major north-south fault.
The well is located within the Wichian Buri Extension production licence and is projected to take around 12 days to drill to its planned total depth of about 1,280 metres.
Production from the L44/43 and L33/43 concessions have been steady at about 1,300 barrels of oil gross to the two companies.
Carnarvon has been working with the operator on a water flood project in the WBEXT “D” and “E” sand reservoirs. The water flood will help sweep the oil to improve overall recovery and restore reservoir pressure to increase flow rates
Carnarvon has a 40% interest in these permits.
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