Managing director Adrian Cook explained to investors at this week’s Proactive CEO Sessions in Sydney and Melbourne that the company had $98 million in cash to vigorously pursue its strategy.
He said the past year had been significant for Carnarvon but with support from its Dorado project joint venture partner, Santos Ltd (ASX:STO), which was talking up the JV’s potential, the story had a long way to run.
The near-term catalysts that Cook referred to in his presentation are:
- Dorado-2 appraisal well to start by the end of April;
- Dorado-3 appraisal well;
- Dorado development preparations, including engineering and design studies;
- Roc South-1 exploration well; and
- Buffalo project exploration well.