CVN 0.00% 19.5¢ carnarvon energy limited

Oil's Well at Dorado-2, page-2

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    Carnarvon Petroleum shares surge on drilling results for Dorado oil field held with Santos
    Peter WilliamsThe West Australian
    Wednesday, 29 May 2019 2:56PM

    The Ensco 107 drilling platform was used at the Dorado-1 well in the Bedout Sub-basin.

    Carnarvon Petroleum shares have spiked after a positive report from drilling at the highly prospective Dorado oil field off the North West operated by Santos.
    The oil and gas company said the results for the Dorado-2 well north of Port Hedland indicated that it had similar reservoirs to those of Dorado-1 discovered last year.
    That discovery in the Bedout Sub-basin was hailed as one of the biggest ever in North West waters.
    Dorado-2 is the first appraisal well of the Dorado field. Carnarvon said wireline logging information would be obtained to determine the quality of the reservoir sections and nature of the hydrocarbon fluids found.
    Carnarvon holds a 20 per cent interest in Dorado. Its shares closed up 10¢, or 24 per cent, to 52¢ on heavy trading volume.
    Santos acquired the 80 per cent stake when it bought Quadrant Energy last year. Its stock closed down 11¢, or 1.6 per cent, to $6.96
 
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