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Phoenix South-1 Well Update
18 July 2014
Carnarvon Petroleum Limited ("Carnarvon") (ASX:CVN) is pleased to report that the Phoenix South-
1 well has successfully set the 9 5/8" casing in the side-track well and is drilling ahead.
As at 12:00 hours today the well was drilling ahead at approximately 3,750 meters MD in the final hole section.
The primary targets for the Phoenix South-1 well are the interbedded sandstones, siltstones and claystones of the Middle Triassic Lower Karaudren Formation and Early to Middle Triassic Locker Shale. These sands are expected to be intersected while drilling this final hole section.
The well is expected to take approximately three weeks to complete drilling.
Following the completion of drilling, extensive wireline logging and both pressure and fluid sampling are planned. These operations will continue for a further week.
Carnarvon will provide further updates as the well progresses.
The equity interest holders in the Phoenix South-1 well (upon satisfaction of the farm in agreement terms) are:
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. |