Sign up Australia
Proactive Investors - Run By Investors For Investors

Carnarvon Petroleum to relate its oil and gas story at Proactive CEO Sessions

Managing director Adrian Cook will outline developments at the Phoenix and Buffalo projects.
Drilling rig at Dorado-1 well.
Next month’s luncheon sessions will be on September 17 and 18

Carnarvon Petroleum Limited (ASX:CVN) has had plenty of news to share of late resulting in shares surging to a new 12-month high of 69.5 cents early this month.

This makes next month’s Proactive CEO Sessions a must-attend for investors interested in the company and its oil and gas strategy.

READ: Carnarvon Petroleum’s oil exploration strategy continues to generate significant shareholder value

Carnarvon’s managing director Adrian Cook will inform investors about latest developments at the Dorado-1 and Phoenix South-3 wells of its Phoenix joint venture project on the North West Shelf.

He will also talk about plans for the Buffalo project in Timor-Leste territorial waters.

This project appears economically compelling based on Carnarvon’s preliminary mean recoverable volume of 31 million barrels, which has been reviewed by leading independent consulting firm RISC.

 

It is the oil discovery at Dorado-1 well that has spurred strong investor interest.

This has now been confirmed as the third largest discovery in the history of the North West Shelf.

Leading oil and gas consultancy firm Wood Mackenzie puts the Dorado 2C contingent oil resource of 171 million barrels of oil behind the Barrow Island and Wanaea resources.

Very few junior ASX-listed oil and gas companies have participated in a discovery of this magnitude.

Managing director Adrian Cook.

Carnarvon holds a 20-30% interest in the four associated permits that comprise the Phoenix project, including the Dorado, Roc and Phoenix South discoveries.

READ: Carnarvon Petroleum welcomes Santos move on joint venture partner Quadrant

The company has welcomed the potential acquisition of its Phoenix project joint venture partner Quadrant Energy by major oil industry player Santos Limited (ASX:STO), a highly experienced oil and gas player.

Santos intends to acquire 100% of Quadrant, including the 70-80% interest in the Phoenix project, for cash consideration of US$2.15 billion in addition to contingent payments and royalties.

Carnarvon said it had good relations with Santos and shared that company’s enthusiasm for the Phoenix project and its willingness to quickly commercialise recent discoveries including Dorado.

Register today to find out more.

Sydney details, Monday, September 17, 2018

Melbourne details, Tuesday, September 18, 2018

Or call John Phillips on (02) 9280 0700

The Proactive CEO Sessions will feature five presenting companies in total.

View full CVN profile View Profile

Carnarvon Petroleum Ltd Timeline

Related Articles

oil and gas operations
May 01 2018
It was a year of portfolio building and progress for the onshore UK-focused minor, punctuated by improved production volumes and a number of acquisitions with value-adding potential
coal trucks
March 14 2018
Polish group Cobant is the latest partner and will work with AEG to develop a new "Super Fuel" that combines CoalSwitch and reclaimed coal
Texas flag
September 04 2018
Well workovers in June boosted average gross production before royalties to around 44 barrels of oil per day

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use