Bank 1 is passenger side, Bank 2 is driver's side. If you have 4 O2 sensors, they are numbered by Ford (in their wiring diagrams) as O2 1-1, O2 1-2, O2 2-1 and O2 2-2.
The second digit, i.e., 02 1-1, is UPSTREAM position (towards the engine), or O2 1-2 being the sensor downstream, after the cat converter. imp