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Carnarvon Petroleum oil and gas story expected to have many more pages

Company CEO Adrian Cook presented to investors at this week’s Proactive CEO Sessions.

Adrian Cook at CEO Session
Carnarvon Petroleum managing director Adrian Cook addresses investors at the CEO Sessions

Carnarvon Petroleum Ltd (ASX:CVN) has attracted a great deal of interest with its oil & gas story in the last 12 months and has upcoming catalysts that seem certain to increase the interest.

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.

READ: Carnarvon Petroleum into S&P/ASX 300 – AC8, BGL, PAR into All Ordinaries

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.

READ: Carnarvon Petroleum raises $50 million to fund world-class Dorado discovery

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.

To view the presentation made by Adrian Cook click here.

Quick facts: Carnarvon Petroleum Ltd

Price: 0.4 AUD

ASX:CVN
Market: ASX
Market Cap: $624.96 m
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Carnarvon Petroleum advancing Dorado and Buffalo projects

Carnarvon Petroleum Ltd (ASX:CVN) managing director Adrian Cook speaks to Proactive Investors following a successful $50 million capital raising last week. Cook discusses the Dorado project, detailing the company's plans and expectations for three wells. He also updates on the Buffalo...

on 18/2/19

2 min read