logo-loader
Carnarvon Petroleum Ltd

Carnarvon Petroleum continues with Roc South-1 well to test deeper targets

The exploration well offshore WA will be drilled down to the planned total depth of 5,100 metres.

Well at Carnarvon property
The company is following up significant oil & gas discoveries on the North West Shelf

Carnarvon Petroleum Limited (ASX:CVN) believes there is sufficient potential in the deeper Crespin and Milne intervals to continue drilling the Roc South-1 exploration well on the North West Shelf offshore WA.

The well will continue to the planned total depth of about 5,100 metres measured depth (MD).

This decision has been made after the interpretation of wireline logs indicated no producible hydrocarbons across the Caley and Baxter sands, which were other targets in the well.

READ: Carnarvon Petroleum appraisal confirms major Dorado oil and gas resource, shares up

With the 8.5” hole been drilled to about 4,508 metres MD, operations to run a 7” liner are underway, after which this final section will be drilled in 6” hole.

Carnarvon managing director Adrian Cook said: “Our tremendous success to date has occurred through making significant discoveries, most particularly around Dorado and Roc.

“As we unlock this new basin on the North West Shelf, we will find results that are unexpected and not as we should wish.

“The Roc South-1 result in the Caley and Baxter intervals is a case in point in that it will not build upon our current resource pool.”

“Significant resources to date”

“That said, we should not lose focus on the fact that we have discovered a significant volume of resources to date, we are working on plans to bring the Dorado liquids (oil and condensate) into production as soon as possible and we have ongoing intentions to make new discoveries in the future,” he said.

“We will now test the deeper sections in the Roc South-1 well before the rig moves to the Dorado-3 appraisal well where it will conduct a flow test from the Dorado reservoirs that proved successful in the Dorado-1 and 2 wells.”

Results from Roc South-1 are expected to assist in the refinement of other exploration prospects in the area.

As evidenced by results to date in the Dorado field, each reservoir interval is capable of being charged with different hydrocarbons and varying levels of fill.

Testing potential in Crespin and Milne members

This leads the company to believe that there is sufficient potential in the deeper Crespin and Milne structures to continue the well.

The objective of the Roc South-1 well was to determine if additional hydrocarbons existed that were capable of being tied-in and produced with the Dorado liquids (oil and condensate) and gas production facilities.

Development plans for Dorado will not be impacted by the Roc South results in the Caley and Baxter intervals.

READ: Carnarvon Petroleum commences new 3D survey to develop new targets

Carnarvon said new 3D seismic data that was being acquired was expected to provide more relevant information over the Dorado development area and a number of key prospects nearby.

Dorado, Roc and Roc South reside in WA-437-P in which Carnarvon holds a 20% interest.

Quick facts: Carnarvon Petroleum Ltd

Price: 0.39 AUD

Market: ASX
Market Cap: $609.34 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Carnarvon Petroleum Ltd named herein, including the promotion by the Company of Carnarvon Petroleum Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Carnarvon Petroleum advancing Dorado and Buffalo projects

Carnarvon Petroleum Ltd (ASX:CVN) managing director Adrian Cook speaks to Proactive Investors following a successful $50 million capital raising last week. Cook discusses the Dorado project, detailing the company's plans and expectations for three wells. He also updates on the Buffalo...

on 18/2/19

3 min read