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Phoenix South-1 Well Update
20 August 2014
Carnarvon Petroleum Limited ("Carnarvon") (ASX:CVN) is pleased to advise that the Phoenix South-1 well has completed drilling to a depth of 4,595 metres measured depth ("MD") after encountering the Locker shale.
A further two minor sands were encountered during the additional 55m of drilling. While quantitative analysis has not been undertaken on these two 10m sands, preliminary indications from the real-time logging data are that these are both hydrocarbon bearing.
Currently the rig is undertaking activities to leave the well in a safe condition, and it is anticipated that the rig will leave location by the end of this month. The cost estimate for the well to completion, including additional drilling, is within the previous guidance of approximately A$6 million net to Carnarvon.
The equity interest holders in WA-435-P are:
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Carnarvon Petroleum
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20%
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Apache Energy (Operator)
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40%
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JX Nippon
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20%
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Finder Exploration
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20%
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For all enquiries please contact:
Shareholder Enquiries Media Enquires
Mr Thomson Naude Mr Tony Dawe
Company Secretary Professional Public Relations
Phone: (08) 9321 2665 (08) 9388 0944 / 0405 989 743
Email: [email protected] [email protected]
Yours faithfully
Adrian Cook Managing Director Carnarvon Petroleum
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Carnarvon Petroleum Ltd.
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CODE : CVN.AX |
ISIN : AU000000CVN8 |
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Carnarvon Petroleum is based in Australia. Carnarvon Petroleum is listed in Australia and in Germany. Its market capitalisation is AU$ 165.5 millions as of today (US$ 110.9 millions, € 102.4 millions). Its stock quote reached its lowest recent point on June 21, 2013 at AU$ 0.04, and its highest recent level on August 10, 2018 at AU$ 0.70. Carnarvon Petroleum has 1 021 340 032 shares outstanding. |