2 Apr 2007drilling spud● NeutralMajor
Drilling began on 31 March on NS-3, the first Phase 2 well, an appraisal of the Na Sanun discovery where Na Sanun-1 flowed 1,400 bopd in 1994 before watering out. A second rig is due in late April.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Mar 2007drilling scheduled▲ GoodMajor
The joint venture expands Phase 2 to up to 37 wells plus 100 sq km of new 3D seismic, with two rigs, starting March subject to approvals. POE-9 has held 320-389 bopd for over two months. Na Sanun-1's early water-out may have been due to poor cementing.
22 Jan 2007drilling result▲ GoodMajor
POE-9 is declared an oil discovery, now producing 380-390 bopd with 0.1% water cut after peaking at 560 bopd. The JV is applying for a production licence, and Phase 1 stands at 7 successes from 8 wells. Phase 2 of up to 20 wells starts in early March.
13 Dec 2006drilling progress report▲ Good
The POE-1 re-drill is at 756 m. POE-3 and POE-5 have been perforated in the F sand and are producing commingled oil. The workover of old wells has begun, with WB-N7 and WB-N8 recompleted with beam pumps.
5 Dec 2006drilling progress report● Neutral
The POE-1 re-drill has begun and should take about 10 days, with POE-9 spudding in mid-December. Testing of the other Phase 1 wells continues. Attached is Pan Orient's report, which shows production up to about 250 bbl/d gross from a 60 bbl/d low.
23 Nov 2006drilling result▼ BadMajor
POE-7 reached 1,125 m and all prospective zones looked water-bearing, so it will be plugged and abandoned. This is the first Phase 1 dry hole; POE-9 is still due to spud in early December as the last well.
13 Nov 2006drilling spud● Neutral
POE-7, the Huai Phai appraisal exploration well, spudded 8 November and was at 514 m. G sand testing continues in POE-2 and POE-6, and POE-5 is being perforated for testing.
23 Oct 2006drilling progress report● Neutral
Flow testing of POE-6's G sand began 22 October and is still cleaning up. POE-5, the sixth well, is drilling at 317 m toward 1,362 m. No test result yet.
16 Oct 2006drilling result▲ Good
POE-3, the fifth Phase 1 well, reached 1,206.5 m with log pay of about 15 m in the F sand, 9 m in the G sand and 5.2 m in the deeper H sand, which has never produced on the concession. Flow testing starts 17 October, delayed by perforating charges.
10 Oct 2006drilling progress report● Neutral
POE-3 is at 904 metres and changing the bit, with the target F sand expected within 24 hours. No result yet.
3 Oct 2006drilling spud● Neutral
POE-3, the fifth Phase 1 well, has started drilling as an infill well about 10 m updip of the long-producing WB-1, targeting possible unproduced attic oil in the F sand. POE-6 is suspended awaiting perforation charges for flow testing.
28 Sept 2006drilling result▲ GoodMajor
POE-6, an exploration well in a separate western fault block, reached 1,200 m with log net pay of about 22.8 m, including 10.2 m in the G sand. Oil is unproven until flow testing in early October.
26 Sept 2006drilling progress report● Neutral
POE-6 reached 1,200 metres with good oil shows at several levels; logging is under way. No result yet.
20 Sept 2006drilling progress report● Neutral
POE-6 was at 643 metres, heading to about 1,100 metres. Carnarvon says operations at Wichian Buri are unaffected by the apparent military-led takeover of the Thai government.
12 Sept 2006drilling spud● Neutral
POE-8 is complete and suspended for testing; POE-2 logs show a further possible 7 m of pay at 572 m. POE-6, an exploration well in a separate fault block to the west, spudded 11 September as the fourth well. Production testing is now expected from October.
4 Sept 2006drilling result▲ GoodMajor
POE-8 reached 1,312 metres, deeper than planned, with log pay of about 2 m (F sand), 3 m (G sand) and 4 m in a deeper sand, plus possible shallower zones. Flow testing is needed. A pump change lifted the WB-N4 well from about 5 to 20 barrels a day.
29 Aug 2006drilling progress report● Neutral
POE-8, the third Phase 1 well of a now seven-well programme, was at 1,186 metres and drilling ahead. No result yet.
22 Aug 2006drilling scheduled▲ GoodMajor
Preliminary 3D seismic shows several exploration targets. Phase 1 grows to seven wells, adding POE-7 updip of the 2003 Huai Phai-1 well, a structure about 3.3 km long. Phase 2 long-lead equipment is being ordered, and workover at the N4 well has lifted output.
21 Aug 2006drilling progress report▼ Bad
POE-1 is suspended at 1,015 metres with the drill string stuck in a fault, and the deeper G sand not reached. The rig moved to POE-8, a northern step-out well planned to 985 metres, and returns to POE-1 later. POE-2 is suspended for September testing.
15 Aug 2006drilling progress report▼ Bad
POE-1 reached 1,015 metres but the drill string is stuck in the hole; crews are trying to free it. This is a setback to the planned 12-day well.
8 Aug 2006drilling progress report● Neutral
POE-1 reached 548 metres with casing cemented, and drilling is proceeding as planned toward 1,251 metres. No result yet.
4 Aug 2006drilling spud● Neutral
POE-1, the second Phase 1 well at Wichian Buri, has started drilling 700 metres updip of POE-2, targeting a bright seismic amplitude event. Planned depth is 1,251 metres, about 12 days, and it will test both F and G sands.
31 July 2006drilling result▲ GoodMajor
POE-2, first of six Phase 1 wells at the 40%-owned Wichian Buri field, was drilled with log-indicated oil sands of about 5.8 m (F sand, ~964 m) and 5.6 m (G sand, ~1,035 m). Flow rates are unproven until September testing; G sand has never been production-tested.
18 July 2006drilling progress report● Neutral
POE-2 had reached 510.5 metres with casing being cemented; drilling proceeding as planned toward 1,310 metres. No result yet.
11 July 2006drilling spud▲ GoodMajor
POE-2 spudded 11 July 2006, the first of six Phase 1 wells at the 40%-owned Wichian Buri field and the first drilling there since early 2004 per a later presentation. Target depth 1,310 metres; up to 20 more wells planned in Phase 2.
5 May 2006resource reserve update▲ GoodMajor
Independent assessment puts Wichian Buri and Si Thep proved plus probable reserves at 14.2 million barrels gross (5.68 million net to Carnarvon), up from 9.7 million earlier. Current output is only about 75 barrels a day; drilling starts in June.