Carnarvon Petroleum (ASX:CVN) has provided an update from partner Quadrant Energy (80% and operator, Carnarvon 20%) on the upcoming drilling program.
The Phoenix South-3 well is being designed as a redrill of the Phoenix South-2 well that discovered gas and condensate at the top of the Caley interval.
The Phoenix South Caley structure is estimated to contain a gross mean recoverable prospective resource of 489 Bscf of gas and 57 million barrels of associated condensate, being 143 million barrels of oil equivalent.
The primary objective of the Phoenix South-3 well is to evaluate the Caley interval.
Dorado-1
Moving on to Dorado-1, this well is targeting multiple stacked reservoirs within the Caley interval. The top sand alone is estimated to contain a gross mean recoverable prospective resource of 545 Bscf of gas and 31 million barrels of associated condensate.
The operator had requested and received tenders for a jack-up rig to drill the Dorado-1 well this year.
Roc Development
The joint venture has commenced pre-front end engineering and design work aimed at determining the most robust concept for developing the discovered hydrocarbons in the Phoenix project area.
This work includes detailed reservoir modelling at Roc in order to determine the ideal development of this structure.
Based on this work, the northern extent of the Roc reservoir will be a focus to provide greater certainty on the gas and condensate resource and ultimately support the reclassification of volumes into the more robust Proved category for making a final investment decision.