Carnarvon Energy Ltd (ASX:CVN) MD Adrian Cook tells Proactive the company has completed divesting a 10% portion of its Bedout assets to OPIC Australia Pty Limited, a subsidiary of Taiwan’s national oil and gas company CPC Corporation. Divesting these assets means that Carnarvon is now holding approximately $319 million in financial liquidity comprising ~$181 million in cash and ~$138 million future contribution to its Dorado Project development costs. He says completion of the transaction positions the company to realise the value of its high-quality portfolio, including the development of the world-class Dorado and Pavo fields as well as unlocking the considerable exploration potential across its Bedout assets.
Carnarvon Energy’s Bedout divestment a ‘crucial funding milestone’
