Carnarvon Petroleum’s Phoenix South-3 well reaches 3,733 metres targeting North West Shelf gas and liquids
The well is expected to access gas and condensate in the Caley Member at a depth of about 5,300 metres.
Company
Carnarvon Energy Ltd
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 on schedule with drilling at Phoenix South-3 well
Quadrant Energy is drilling ahead in 17 1/2 inch hole at a measured depth of 3,114 metres.
Carnarvon Petroleum raises $16 million to assist in redeveloping the Buffalo oil field
Existing shareholders are also being given the chance to participate in a share purchase offer to raise up to $4 million.
Carnarvon Petroleum enters trading halt ahead of capital raising
Broker Hartleys recently forecast a 12-month share price target of 25 cents.
Carnarvon Petroleum moves closer to oil production at Buffalo with preparations for first well
The signing of a Maritime Boundary Treaty with Timor-Leste has enabled the company to progress its development strategy.
Carnarvon Petroleum expects to start drilling for gas and liquids at Dorado-1 by end of May
The primary objective of the well is to assess the gas and liquids potential in the Caley Member.
Carnarvon Petroleum on track with Phoenix South-3 drilling program
Analysts at Hartleys view Carnarvon as one of the best stocks to target to gain leverage to the oil price recovery.
Carnarvon Petroleum drilling to add to gas and condensate bounty at Phoenix project
Drilling has started at the Phoenix South-3 well with drilling to start next month at Dorado-1 well.
Carnarvon Petroleum begins drilling Phoenix South-3 well to unlock gas, condensate potential
The objective is to fully evaluate the gas and condensate discovered earlier
Carnarvon Petroleum trades strongly ahead of active drilling campaign
Carnarvon had a cash balance of A$48.1 million at the end of the March quarter, leaving it well-placed to fund an active period of exploration.
Carnarvon Petroleum expects drilling to start shortly at Phoenix South-3 after rig arrives
The semi-submersible drilling rig will now be anchored in place and ballasted.
Carnarvon Petroleum rig delay only a small hitch ahead of a big year of exploration
This represents only a minor delay, offset by multiple share price catalysts at play throughout 2018.
Carnarvon Petroleum enters 2018 with multiple share price catalysts including the prospect of a takeover
Hartleys has a 12-month share price target of $0.25 on the stock implying upside of nearly 100%.
Carnarvon Petroleum says drill rig will be at Phoenix South-3 well site by the end of March
Operated by Quadrant Energy, the latest well is just 560 metres from the Phoenix South-2 discovery
Carnarvon Petroleum’s plans get a boost from Australia - East Timor maritime border treaty
The treaty finally determines each nation’s ownership of the rich oil and gas reserves in the Timor Sea.
Carnarvon Petroleum to showcase oil and gas work during information day
Innovative exploration methods have been used to build North West Shelf asset portfolio.
Carnarvon Petroleum’s improved data likely to take Buffalo oil field to development
A better data set has been established for an oil field that last produced in 2004.
Carnarvon Petroleum to unlock value in new Eagle Project using improved technology
The 585 square kilometre permit will be known as the Eagle Project.
Carnarvon Petroleum upgrades prospective resource at the Labyrinth project
The company's shares are trading 13% higher intra-day, at $0.13.
Carnarvon Petroleum's leverage to recovering oil price underappreciated says Hartleys
Hartleys notes company's cash position of circa $50 million as at December 31, 2017.