Quote from Carnarvon's website:
Discovery is in our DNA at Carnarvon Petroleum. We’re more than an oil and gas exploration company – we’re pioneers in thought innovation. Through creative partnerships and bold investment in the latest data and technology, our talented team is making discoveries many thought not possible. And we’ve set our sights on unlocking the largest oil field in WA’s North West Shelf. We’re on the verge of something big
Unlocking Dorado; that resource has now been locked in.
Unlocking Apus; that resource has yet to be quantified.
I do not believe for a second that Carnarvon has any intention of becoming an oil producer. Firm up the numbers for Apus [+ benefits] and, if oil and gas markets improve over the next 18 months, the offers for Carnarvon's share of these resources will be significant.
I could be way off but it does seem to me to be the most likely outcome/reward for a junior oil and gas exploration company.
Ann: Investor Presentation, page-23
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