Carnarvon Petroleum Ltd (ASX:CVN) has been granted a trading halt by the ASX pending the release of information in relation to the Dorado-1 well exploration results.
The Dorado-1 well is being drilled in the Phoenix Project located offshore Western Australia in the Canning Basin.
Shares in the company will remain halted until the earlier of, the release of information regarding the Dorado-1 exploration results, or, the commencement of trading on Wednesday.
READ: Carnarvon Petroleum continues to receive positive drilling results from Dorado-1 well
The Dorado-1 well is targeting gas and condensate in a zone known as the Caley Member interval.
The primary objective for the Dorado-1 well is to assess the gas and liquids potential in the Caley Member.
Notably, the well is less than 20 kilometres from the successful Roc-1 and Roc-2 wells.