Carnarvon Petroleum marks a positive advance at Roc oil well
Carnarvon Petroleum is encouragingly advancing its Roc-1 oil well offshore Western Australia with ahead-of-schedule drilling expected to reach 4,750 metres depth within two weeks.
Company
ASX:CVN
Carnarvon Energy Ltd (ASX:CVN) has set its sights on unlocking the largest oil field in WA’s North West Shelf.
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Carnarvon Petroleum is encouragingly advancing its Roc-1 oil well offshore Western Australia with ahead-of-schedule drilling expected to reach 4,750 metres depth within two weeks.
The Australian All Ordinaries traded relatively flat as most sectors of the economy drifted in negative territory. This energy company, however, continued to make progress.
Next steps for Quadrant will be to drill the well into the reservoir section, equivalent to where the oil was discovered in the Phoenix South-1 well.
Carnarvon Petroleum's managing director, Adrian Cook, has exclusively spoken to Proactive Q&A Sessions™ about the drilling of the Roc-1 well in permit WA-437-P in Australia's North West Shelf.
Drilling is expected to take 35 to 40 days to reach Total Depth. Well logging and sidewall coring is could take 5 to 10 days on a success case.
Carnarvon Petroleum is on the cusp of a much anticipated exploration program at its Roc oil well in Australia’s North West Shelf, with a rig now on location and awaiting final approvals.
Carnarvon Petroleum has set a spud date next week for the Roc-1 oil well in Australia’s North West Shelf region as the company’s broader Phoenix offshore property demonstrates increasing potential.
Carnarvon is in a strong financial position as the Roc-1 campaign gets underway, being debt free with $100M in cash and developing plans for a future income stream. Costs for the upcoming drilling at Roc-1 are free carried.
Carnarvon Petroleum Melbourne/Sydney Investor Luncheon Presentation
Carnarvon Petroleum is a technically-driven explorer focused on the North West Shelf, a prolific oil and gas region.Find out more from MD Adrian Cook, when he presents at Proactive's Melbourne, Sydney Investor Luncheons in September.
With cash of $97.3M, future royalty payments of up to US$32M and no debt, the company is positioned to capitalise on high impact opportunities in the North West Shelf. Former Woodside Petroleum senior executive Dr Peter Moore brings his exp
The company is considering new opportunities including the bid round for Australian offshore oil and gas exploration permits in 4Q 2015. It has also progressed plans for drilling of the Roc-1 well later this year.
The oil discoveries are located in exploration blocks that could provide significant value for a modest investment. The Cerberus Blocks are located close to major oil fields such as Wandoo, Stag, Barrow Island and Harriet.
A successful Roc-1 well will be suspended to allow for re-entry within six to twelve months to complete more extensive well sampling and to flow test the well. Planning is also underway for the drilling of additional exploration and apprais
Apache Corporation has confirmed the Phoenix South-1 well is a light oil discovery. More work is required to provide an estimate on the size of the find. The Roc-1 well is expected to be drilled in the middle of 2015. Carnarvon Petroleum is
Apache Corporation has confirmed the Phoenix South-1 well is a light oil discovery. More work is required to provide an estimate on the size of the find. The Roc-1 well is expected to be drilled in the middle of 2015. Carnarvon Petroleum is
Apache Corporation has confirmed the Phoenix South-1 well is a light oil discovery. More work is required to provide an estimate on the size of the find. The Roc-1 well is expected to be drilled in the middle of 2015. Carnarvon Petroleum is