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Carnarvon Petroleum to discuss Dorado JV development and exploration plans at Proactive CEO Sessions

Carnarvon and partner Santos are targeting further exploration drilling as the Dorado project enters the development phase.

Carnarvon Petroleum Ltd - Carnarvon Petroleum to discuss Dorado JV development and exploration plans at Proactive CEO Sessions
Carnarvon’s managing director Adrian Cook will present at the Proactive events next month

Carnarvon Petroleum Ltd (ASX:CVN) has a portfolio of oil and gas projects across the North West Shelf offshore Western Australia and is progressing towards developing the Dorado Oil & Gas Field.

As well as taking steps towards development of the world-class Dorado discovery, Carnarvon and joint venture partner Santos Ltd (ASX:STO) are actively seeking further reserves.

Carnarvon’s managing director Adrian Cook always attracts plenty of interest when he presents at Proactive’s CEO Session and next month is certain to be no exception.

Five presentations

Cook will be one of five presenters at the Sydney session on Monday, March 23, 2020, and at the Melbourne session the following day, Tuesday, March 24.

As part of the exploration plans, Carnarvon and Santos have released preliminary data from a 2019 Keraudren 3D seismic survey over the Phoenix project, which will aid in defining high-quality exploration targets to complement Dorado.

Exploration opportunities

The existing seismic data has already identified several material exploration opportunities near to Dorado and additionally across the Bedout basin permits dubbed Pavo and Apus, which were significantly de-risked following the Dorado discovery.

Work is now progressing towards the front-end engineering design (FEED) phase at Dorado as the Dorado project progresses towards development planning before a Final Investment Decision.

The partners are also planning the start of an exploration drilling campaign in 2021.

Plans for Buffalo, Condor and Eagle

Carnarvon is progressing plans to redevelop the Buffalo project, which moved from Australian to Timor-Leste jurisdiction after the Maritime Boundary change in August 2019.

The company is looking to secure a partner to support its funding strategy as it moves towards the development of the Dorado and Buffalo fields.

Technical work is also ongoing at Condor and Eagle projects in the Vulcan sub-basin (within the Bonaparte Basin) with Carnarvon seeking expressions of interest from potential partners.

Other companies presenting at the Sydney and Melbourne events are Calima Energy Ltd (ASX:CE1)  and De Grey Mining Limited (ASX:DEG).

Register for the CEO Sessions today

Sydney details, Monday, March 23, 2020

Melbourne details, Tuesday, March 24, 2020

Quick facts: Carnarvon Petroleum Ltd

Price: 0.1525 AUD

Market: ASX
Market Cap: $238.57 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...

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