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Carnarvon Petroleum Ltd

Carnarvon Petroleum to talk road ahead at Proactive CEO Sessions after major discoveries

Carnarvon and its partner made one of the ASX’s most significant oil and gas discoveries in 2018.

Carnarvon Petroleum Ltd - Carnarvon Petroleum to talk road ahead after major discoveries at Proactive’s CEO Sessions
Carnarvon’s managing director Adrian Cook will be presenting at the events next week

Carnarvon Petroleum Ltd (ASX:CVN) has a portfolio of oil and gas projects across the North West Shelf located offshore Western Australia.

The Dorado and Roc permits (Phoenix Project) have been the main source of discovery success, which Carnavon has a 20-30% in with partner and operator Santos Ltd (ASX:STO).

The already-large 2C gross resources of 422 mmboe within the Phoenix Project are expected to support a long asset life.

Most recently, Carnarvon has been completing appraisal work on the Dorado-3 well, which is following up the success of the Dorado-1 and Dorado-2 wells.

Wireline logging results from early September 2019 in the Dorado-3 well strongly supported progressing to the next stage being two planned flow tests of the Caley and Baxter intervals.

Carnarvon added to S&P/ASX All Australian 200

The evolution of Carnarvon as emerging oil and gas developer is evident from its inclusion in the S&P/ASX 300 Index in March 2019.

Most recently, Carnarvon was added to the S&P/ASX All Australian 200, which is similar to the ASX 200 but with the extra requirement to be domiciled in Australia.

Carnarvon shares were trading around 14 cents before the first Dorado discovery in July 2018 – they are trading at around 40 cents today and have been as high as 69.5 cents.

 

Other companies presenting at the Sydney and Melbourne events are Whitebark Energy Ltd (ASX:WBE), Platina Resources Ltd (ASX:PGM), Tap Oil Ltd (ASX:TAP), and Pure Minerals Ltd (ASX:PM1).

 

Register for the CEO Sessions today

Sydney details, Monday, September 16, 2019

Melbourne details, Tuesday, September 17, 2019

Quick facts: Carnarvon Petroleum Ltd

Price: $0.42

Market: ASX
Market Cap: $656.21 m
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