31 January 2008Company Announcements OfficeASX LimitedVia ASX...

31 January 2008
Company Announcements Office
ASX Limited
Via ASX Online
Dear Sirs
CARNARVON PETROLEUM BIDS FOR TWO ONSHORE THAILAND BLOCKS
Carnarvon Petroleum Ltd (“Carnarvon”) is pleased to announce that it has applied to the
Department of Mineral Fuels (“DMF”) in Thailand for concession rights in petroleum
exploration and production for two areas described as Blocks L52/50 and L53/50 (“the
Concessions”) onshore Thailand in the Surat-Khiensa Basin.
Pearl Oil (Petroleum) Ltd (“Pearl”) has submitted the bid as operator on behalf of Pearl and
Carnarvon, each company participating at a 50% equity level.
From the DMF it is known that no other applicants have applied for these blocks.
Information relating to the application has been posted on the DMF website
http://dmf.go.th/bid20/ - 7th Submission month (18 Dec – 15 Jan 08)
The L52/50 and L53/50 concessions are located in the Surat Thani province, onshore on the
Thailand peninsular.
The combined area of the two blocks is large, comprising approximately 6,950 km2 however
both are lightly explored, with only two deep wells and limited seismic data available.
Carnarvon’s Managing Director, Mr Ted Jacobson, commented:
“L52/50 and L53/50 in the onshore Surat-Khiensa Basin represent longer term exploration
potential complementing the near term potential and oil production from Carnarvon’s
SW1A, L33/43 and L44/43 concessions in the onshore Phetchabun Basin and the mid term
potential of recently awarded block L20/50 in the onshore Phitsanulok Basin.
With minimal exploration over the area, little public knowledge is available about the Surat-
Khiensa Basin. However, work completed to date and Carnarvon’s regional knowledge
suggests this is an area with good potential for hydrocarbon exploration.
Carnarvon is particularly excited to be working with Pearl, an independent oil and gas
company with exploration and production (E&P) activities focused exclusively in South East
Asia. Pearl is an active operator within onshore Thailand as well as offshore in the adjacent
Gulf of Thailand.”