CVN 1.25% 20.3¢ carnarvon energy limited

Ann: Shareholder Update, page-2

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    1. The Dorado development work is continuing as planned with engineering and pre-FEED work streams being advanced, broadly to plan timing wise. The cost of this work is minimal relative to the overall cost of the field development;
    2. Planned seismic acquisition programs in the 2020 calendar year are expected to be deferred until market conditions improve and vessel logistics are not constrained by health issues; and
    3. Work on the refinement of prospects for exploration drilling within the Keraudren 3D seismic area is also continuing. The drilling of these wells in 2021 will be dependent on improving market conditions.
 
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