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Carnarvon Petroleum receives early indications of quality seismic survey data within Dorado Oil & Gas field

The data quality is a marked improvement over the previous Capreolus 3D data, with interpretation work having begun as further comprehensive data processing continues.

Carnarvon Petroleum Ltd - Carnarvon Petroleum receives first 2019 Keraudren 3D seismic preliminary data set within Dorado Oil and Gas field
The new data has delivered substantial improvement in data quality over the Dorado development

Carnarvon Petroleum Ltd (ASX:CVN) has received the first preliminary data set from the 2019 Keraudren 3D seismic survey with interpretation underway.

Early indications are that the Keraudren 3D has achieved the objective of providing superior quality data over Dorado, which will be important for better defining the development of Dorado and establishing high-quality exploration drilling targets in the survey area.

Further processing of the Keraudren 3D will occur throughout the year with the final data set due late in 2020, but this will not impede on the use of the data during this time.

Managing director and CEO Adrian Cook said: “I’m pleased to report that the new seismic data has delivered significant improvement in data quality over the Dorado development area and surrounding near-field opportunities.

“The seismic interpretation work is now underway for both development and exploration purposes and I’m looking forward to providing further updates as this work matures.”

The Keraudren 3D data was acquired using a new seismic methodology designed to enhance the quality of the data over the four targeted reservoir intervals discovered and appraised in the three Dorado wells drilled in 2018 and 2019.

FEED phase progressing

Work is progressing towards beginning the Front-End Engineering Design (FEED) phase.

The new 3D seismic data was acquired to support the subsurface work within this scope, most particularly around the positioning and configuration of wells for future production operations.

The data acquisition area was also extended to include several previously identified near-field exploration prospects and leads.

Assessment of these prospects and leads is intended to occur throughout 2020 with the intention that, subject to the findings of this work, joint venture approvals and securing a drilling rig, an exploration drilling campaign could begin in 2021.

Quick facts: Carnarvon Petroleum Ltd

Price: 0.185 AUD

Market: ASX
Market Cap: $289.41 m

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