Carnarvon Petroleum Ltd’s (ASX:CVN) wireline logging of the Dorado-3 well has successfully confirmed hydrocarbon-bearing reservoir within the Caley, Baxter and Crespin intervals.
In the Caley reservoir, being the primary target, the Dorado-3 well intersected predominantly oil-bearing hydrocarbons in the high-quality reservoir.
Pressure data indicates the reservoir is in communication with the equivalent reservoirs encountered in the Dorado-1 and Dorado-2 wells. No water contact was identified.
The Caley formation results provide important definition of the required facilities for developing this field, providing important confidence around progressing to flow test operations.
Map of WA-437-P showing the Dorado field
In the Baxter reservoir, a secondary target, the wireline logging also confirmed that a hydrocarbon column was encountered with no water contact identified.
Pressure data also indicates the column is in communication with the equivalent reservoirs encountered in the Dorado-1 and Dorado-2 wells.
The Crespin reservoir appears to have encountered hydrocarbons in an area that was expected to be water wet.
This result may ultimately provide further minor refinement to the resource estimate in this interval.
Last key variable
Overall, the wireline results in the Dorado-3 well strongly support progressing to the two planned flow tests of the Caley and Baxter intervals.
The flow tests are the last key variable required to progress to development planning activities.
Carnarvon managing director Adrian Cook said: “The key static field uncertainties were largely resolved with the Dorado-1 and Dorado-2 wells.
“The Dorado-3 well is important in providing critical flow test and fluid data to underpin field development planning and a final investment decision to progress to development.
“The Dorado-3 wireline results strongly support progressing to the flow testing stage.
“Dorado has been proven to be a large world class resource, located in an ideal jurisdiction and operated by a quality partner.”