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Carnarvon Petroleum Ltd

Carnarvon Petroleum prepares for flow testing Dorado-3 well

The company aims to finalise development plans for the Dorado project and test the Buffalo resource in 2020.

Carnarvon Petroleum Ltd - Carnarvon Petroleum prepares for flow testing Dorado-3 well
Wireline logging had earlier confirmed hydrocarbon bearing reservoirs at Dorado-3

Carnarvon Petroleum Limited (ASX:CVN) recently completed wireline logging at the Dorado-3 appraisal well and the casing liner has been set in place across the Caley and Baxter reservoirs in preparation for flow testing the well.

The wireline logging had earlier successfully confirmed hydrocarbon-bearing reservoirs within the Caley, Baxter and Crespin intervals.

Carnarvon CEO Adrian Cook said: “These events mark significant progress in the company’s evolution.

“Last year was all about the discovery of the Dorado field. In 2019 our focus has been on its appraisal and advancing the Buffalo project.

“The aim for 2020 is finalise development plans for the Dorado project and to test the Buffalo resource so that it too can proceed to development phase.

“Overall, the company is in a very strong position with a robust balance sheet and a line of sight to multiple development projects that are expected to generate substantial production outcomes for Carnarvon in the future.”

The first flow test of the Dorado-3 well will be undertaken on the Baxter reservoir.

The Baxter formation was interpreted from wireline to be condensate rich gas. The flow tests will enable the measurement of pressure, permeability and flow capacity of the Baxter formation.

The Baxter flow test will also involve the collection of down-hole and surface samples for analysis and consideration in the design of the production facilities.

At the completion of testing in the Baxter, that reservoir section will be closed off and similar operations will be run over the Caley reservoir.

Carnarvon will discuss its strategy at Proactive's CEO Sessions in Sydney and Melbourne next week. 

Other companies presenting at the Sydney and Melbourne events are Whitebark Energy Ltd (ASX:WBE), Platina Resources Ltd (ASX:PGM), Tap Oil Ltd (ASX:TAP), and Pure Minerals Ltd (ASX:PM1).

Register for the CEO Sessions today

Sydney details, Monday, September 16, 2019

Melbourne details, Tuesday, September 17, 2019

Quick facts: Carnarvon Petroleum Ltd

Price: $0.38

Market: ASX
Market Cap: $597.62 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