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Additional Information

Market:	ASX
Sector:	Oil and Gas Exploration and Production
EPIC:	SUR
Latest Price:	0.02 (0.00%)
52-week High:	0.10
52-week Low:	0.02
Market Cap:	13.12M

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Sun Resources Full Sun Resources profile here

Sun Resources (ASX: SUR) is an oil and gas exploration and production company based in Perth, Western Australia.

Key exploration assets are in the states of Texas and Louisiana in the United States of America, Thailand, Malta and Australia with a small cash flow currently delivered from production assets in the onshore Gulf of Mexico region of the USA. Their current focus areas are the onshore USA and Thailand.

Sun Resources gets nod from Thai government for Environmental Impact Assessments

Thursday, September 09, 2010

Sun Resources (ASX: SUR) has reported JV partner Carnarvon Petroleum (ASX: CVN) has received formal written approval from the Department of Mineral Fuels (DMF) in Thailand for nine Environmental Impact Assessments at L20/50.

L20/50 is located between Thailand’s two largest producing onshore field complexes, being the next basin along from Carnarvon’s Phetchabun Basin Oil Fields (producing up to 15,000 bopd with >60 mmboe estimated ultimate recovery) and 20 kilometres south, in the same basin as the prolific Sirikit Oil Field (producing ~20,000 bopd with >200 mmboe estimated ultimate recovery).

This confirms that the environmental approval is in place for the drill campaign to commence late 2010, which will test 1 firm well and 2 contingent well locations.

Carnarvon is now preparing detailed well designs that it anticipates will be submitted for DMF approval during September 2010, in time for drilling in late 2010.

The joint venture’s upcoming drill campaign is targeting the ‘classic’ sandstone reservoirs.

In addition, the wells have potential to intersect analogous structures to Carnarvon’s Phetchabun basin oil fields,
with the potential for oil in stacked, shallow, fractured volcanic reservoirs as well.

Sun has a 50% share (reducing to a minimum of 30% pursuant to farm-out to Peak Oil & Gas Ltd) with Carnarvon 50%.

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