Carnarvon Petroleum launches $50 million placement
The placement will be conducted via a bookbuild to institutional and sophisticated investors.
Company
ASX:CVN
Carnarvon Energy Ltd (ASX:CVN) has set its sights on unlocking the largest oil field in WA’s North West Shelf.
287 stories · page 5 of 15
The placement will be conducted via a bookbuild to institutional and sophisticated investors.
The Roc South-1 exploration well has a relatively high chance of geological success of 63%.
The company aims to expand its portfolio of hydrocarbon resources as it prepares oil and gas projects for production and continues its regional exploration work.
The 2019 drilling is aimed at enhancing understanding of the volume of recoverable oil, gas and condensate resources.
High Peak claims royalties from oil and gas endeavours on Australian and US landholdings.
Managing director Adrian Cook has released a letter to shareholders this morning.
Carnarvon is advancing its highly successful oil discovery at the Dorado-1 well offshore Western Australia.
Three additional prospects are estimated to contain significant quantities of oil, gas and condensate.
Field surveillance has found no impediments to the proposed location of wells for targeting the identified attic of oil.
Vertical Events’ managing director expects the conference might prompt some merger and acquisition activity.
Multiple highly attractive development projects in shallow water on the North West Shelf of Western Australia.
Managing director Adrian Cook will outline developments at the Phoenix and Buffalo projects.
The acquisition proposal comes as Dorado-1 oil discovery is confirmed as the North West Shelf’s third largest.
Assessment of the hydrocarbon volumes within the Dorado structure has revealed an oil resource of 171 million barrels.
The Dorado is a remarkable discovery and Carnarvon is expected to report on the volumetric estimates soon.
Hydrocarbons were observed from around 5,173 metres depth to the lowest closing contour.
This is one of two wells being drilled within the Canning Basin offshore Western Australia.
Total hydrocarbon net pay extended to 132 metres in the Dorado-1 well.
The halt will be in place until the start of trading on Wednesday or when an announcement is released to the market.
The well on the North West Shelf has reached a 5,210 metres measured depth on its way to around 5,500 metres.