Carnarvon Petroleum Ltd (ASX:CVN) has responded to an ASX Price and Volume Query after the company hit $0.10 intra-day today, a 16% increase from the closing price a day before.
Carnarvon said that it is not aware of any information concerning it that has not been announced to the market.
The company added in to its response to the ASX:
"Yesterday the media reported that Quadrant Energy has agreed to acquire Finder Exploration and JX Nippon’s interest in the Bedout Sub-basin permits of which Carnarvon holds and retains a 20% interest.
"We believe the media coverage associated with the transaction has brought attention to the forthcoming drilling activity in the Roc resource and Carnarvon’s other drilling activities with Quadrant in Outtrim East-1 which has been previously articulated to the market."
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