CVN 0.00% 16.0¢ carnarvon energy limited

Here is "the" post.It will have to be dones in stages.Some of...

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    Here is "the" post.It will have to be dones in stages.Some of the early chronology is a bit rough but later on it will be precise.
    Part One.
    Shell (I think it was Shell) owned the Wichian Buri concession in the 70s ,or it could have been the 80s.They did a good job on exploring it and delineating the sandstone resources,particularly the "F" layer (about 30m deep). They binned their research and marked it "a tidy but small sandstone field in the Sirikit vein-too small for us to develop". I think Shell documented the high probability that there were at least 4 sandstone (S" from here on) layers with oil-bearing potential- the D at 350m(maybe),the E at 450m(since shown to be tight), the F at 550m and the G(20m thick) at 650m
    In 1982 Sirikit field started producing. Its now easily the largest Thai field,and its a sandstone resource.Wells drilled went from zero to 500 over perhaps 15 years at which point drilling continued to replace expiring producers. For the next 14 or so years the well count stayed at 500 and production at 20,000 bopd. Total wells drilled should be 700,or even 800.A resounding success- wells last 20 years and maintenance is low.
    Speeding up now.
    Late 90s- Tiger Pet .(Singapore) signs up to buy WB off Shell. CVN,going nowhere like Tiger, farms in for 40%. The "old" cvn is born. The plan is to drill a series of ,say,10 wells to hit the F layer,but not go on to the G until the bank account will stand it.They drill about 8 successful wells and 2 or 3 unsuccessful ones. Targeted prodn in the range of 20 bopd to 300, an average of say 150bopd. Thats about 12 wells from say 2001 to the point Ted and Leo started buying in.
 
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