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Carnarvon Petroleum Limited provide Thailand drilling update – NSE-H4

Thursday, Dec 20, 2012

Carnarvon Petroleum Limited ("Carnarvon") (ASX:CVN) provides shareholders with the following update on the drilling operations at the NSE-H4 well as at 06:00hrs, 20th December 2012.

The NSE-H4 well commenced drilling operations on 13th December 2012. As at 06:00hrs on 20th December the well is drilling ahead to planned total depth in 8 ½" hole size.

The well will be directionally drilled to a total depth of 1014m MD and is expected to take a further 3 days to complete.

The well is targeting the NSE main volcanic in an area where wells have produced up to 1,200 bopd (gross) and recovered around 700,000 barrels of oil (gross).

It is expected that, if successful, the well will be placed on production within 7 days following the completion of the well and production from this well is planned to be restricted to preserve flow rates and maximise recovery rates.

Dependent on the results of this well, one further infill well into the NSE reservoir based on revised seismic interpretation of fracture analysis is considered for the 2012 drill program.

Source: Carnarvon Petroleum Limited

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