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Carnarvon Petroleum’s initial Dorado-2 indications reveal similarities to Dorado-1 discovery

Increased resistivity observed from Logging While Drilling tools indicate porous and permeable zones with indications of hydrocarbons.

Noble Tom Prosser jack-up drilling rig
The Noble Tom Prosser jack-up drilling rig being used at the Dorado-2 well

Carnarvon Petroleum Limited’s (ASX:CVN) initial indications from the Dorado-2 appraisal well reveal that similar reservoirs have been encountered to those in the world-class Dorado-1 discovery.

These indications follow the extraction of 233 metres of whole well bore core from the well across the Caley and Baxter reservoirs.

Logging While Drilling (LWD) tools have logged across the cored section and to the well’s current depth.

READ: Carnarvon Petroleum and partner about to start coring at Dorado-2 appraisal well

Increased resistivity observed from LWD tools indicate porous and permeable zones with indications of hydrocarbons as anticipated in the Caley, Baxter and Milne members.

Wireline logging is required to obtain definitive results and this process will begin once the well has drilled to the total depth of around 4,548 metres Measured Depth (MD).

Shares were up almost 10% in early trade to a high of 46 cents.

Development planning

The primary objective for extracting the core is to assist with development planning for the project offshore Western Australia.

As such, the core has been preserved and sent to laboratories in as original condition as possible.

Work will not begin on the core until after the analysis from the wireline has been completed.

Until this takes place the core is not able to be used to determine reservoir quality or hydrocarbon contacts.

Location of the Dorado-2 well down-dip of Dorado-1 discovery well.

READ: Carnarvon Petroleum advances to next section of Dorado-2 appraisal well offshore WA

Dorado-2 is the first appraisal well of the Dorado oil and gas field which was discovered in the latter half of last year.

Dorado-1 discovered hydrocarbon-bearing reservoirs in the Caley, Baxter, Crespin and Milne members of the Lower Keraudren Formation.

The Dorado project is a joint venture between Carnarvon, which holds 20%, and Santos Ltd (ASX:STO).

Map of WA-437-P showing the Dorado field.

Depth of around 4,500 metres

Early this morning the Dorado-2 well was drilling ahead in 8-1/2-inch hole size at a depth of around 4,500 metres MD.

It is planned to drill to about 4,548 metres MD and then obtain wireline logging information over the complete section of open hole encompassing the Caley, Baxter, Crespin and Milne members.

The wireline logging process includes fluid sampling and pressure testing, in order to obtain information about the quality of the reservoir sections and the nature of hydrocarbon fluids encountered, including estimates of oil-water contacts.

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

Drilling is in water depth of about 95 metres and the Dorado-2 well is 2.2 kilometres away from the Dorado-1 discovery.

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

Quick facts: Carnarvon Petroleum Ltd

Price: 0.265 AUD

Market: ASX
Market Cap: $414.56 m

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