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Carnarvon Petroleum Ltd

Carnarvon Petroleum mobilises drilling rig for Dorado-2 appraisal well

Dorado-2 well is the first appraisal of the Dorado discovery made in 2018, which is one of the largest oil resources ever found on the North West Shelf.

Noble Tom Prosser jack-up drilling rig
Noble Tom Prosser jack-up drilling rig

Carnarvon Petroleum Ltd (ASX:CVN) has mobilised the Noble Tom Prosser jack-up drilling rig which is now close to being on the Dorado-2 well location.

The Dorado-2 well is the first appraisal of the significant Dorado discovery that was drilled in the second half of 2018.

READ: Carnarvon Petroleum Dorado discovery “one of the largest oil resources ever found on the North West Shelf”

The Dorado-2 well is planned as a down-dip appraisal well to delineate the hydrocarbon contacts in the Caley, Baxter and Milne Members of the Lower Keraudren Formation.

The results from this well will be used to increase subsurface certainty and provide additional comfort that the Dorado structure has sufficient hydrocarbons to support a development.

Dorado and Roc South reside in WA-437-P in which Carnarvon holds a 20% interest

The Dorado-2 well is about 160 kilometres north-northeast of Port Hedland in the Bedout Sub-basin.

Drilling is in about 95 metres water depth with the Dorado-2 location being around 2.2 kilometres from the Dorado-1 location.

Following the Dorado-2 well, the rig is scheduled to drill the near-field exploration well Roc South-1 with the Dorado-3 appraisal well to immediately follow the Roc South-1 well.

READ: Carnarvon Petroleum adds third well to 2019 program at Dorado oil, gas and condensate discovery

Carnarvon managing director Adrian Cook said: “We expect the 2019 drilling program to be the most significant in the company’s history with three important wells designed to solidify the case for a substantial oil and gas development.”

Quick facts: Carnarvon Petroleum Ltd

Price: $0.38

Market: ASX
Market Cap: $582.54 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