CVN 2.63% 18.5¢ carnarvon energy limited

Recoverable oil assessed between 48 to 232 million barrels

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    Independent technical advisor appointed to estimate recoverable oil in Phoenix 3D area.
    • Contingent and Prospective recoverable oil assessed between 48 to 232 million barrels (gross), with a best estimate of 104 million barrels (gross), including:
    • Phoenix South oil recoverable of between 6 and 56 million barrels, with a best estimate of 19 million barrels, classed as Contingent Resource;
    • Roc prospect oil recoverable of between 12 and 133 million barrels, with a best estimate of 42 million, classed as Prospective Resource.
    • Roc-1 well is planned to commence drilling in the fourth quarter of calendar 2015.

    Glad I never panicked into selling.
 
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