Carnarvon provided the following update on the Krai Thong exploration well, onshore Thailand.

Location / Proposed depth Krai Thong is located onshore central Thailand in the Phitsanulok basin, around 350 km northwest of Bangkok and 60km south of the Sirikit oil field. The proposed total depth ("TD") for this well is around 1,425 meters.

Progress Krai Thong has completed drilling the intermediate hole down to 605 m and has set 9 5/8" casing. As at 6:00 am on 8 March the well is preparing to drill ahead in 8 ½" hole to TD.

Forward Plan The well will be drilled ahead in 8 ½" hole through the target objectives to the final well TD of approximately 1,425 meters over the next 3-4 days.

Upon reaching final TD the well will be evaluated with a suite of wireline logging tools.

After analysis of logs the well will either be completed for production testing or plugged and abandoned.

Further updates will be issued as the well progresses.

L20/50 Concession Permit Holders Carnarvon Petroleum Ltd (Operator) 50% Sun Resources NL 42.5% Peak Oil & Gas Limited 7.5%

Tags: Carnarvon Petroleum Limited