Apache and Karoon, page-2

First 2 Last

Share
Profile

Follow
FvoLvo

916 Posts.

8

18/08/14

14:19

Post #: 13833195
Share

Originally posted by syndication ↑

Sorry if this is out date or irrelevant but isn't Karoon's Carnarvon Basin Permit WA-482-P diagonally adjacent??

Apache makes huge oil discovery
US energy company Apache has made an historic discovery of a new oil field offshore Western Australia state, which may hold as much as 300 million barrels of crude.

The Phoenix South-1 well, drilled 180 kilometers north of Port Hedland in 133 meters of water, is the company's first oil discovery in Australia's offshore Canning Basin.

Shares in Carnarvon Petroleum, one of three junior partners in the venture, more than doubled to a three-year high on the news.
"This is the most significant new oil play in the North West Shelf since the Enfield discovery opened up the Exmouth Basin almost 20 years ago," said Adrian Cook, managing director of Canarvon, which has a 20 per cent stake in the project.
"The implications on the rest of our acreage are still being assessed, but the potential is extraordinary," he said.
At 1215pm (AEST) Carnarvon shares were 119 per cent higher at 17.75c, against a benchmark index lift of 0.04 per cent. It is the highest point the shares have reached since August 2011, when they traded above 20c.
Apache is the operator of the WA-435-P block where the discovery was made, and owns a 40 per cent stake in the license and the adjacent WA-437-P permit. Executive vice president and chief operating officer Thomas E. Voytovich said although evaluation is at an early stage, Phoenix South-1 was an exciting result.

"The oil and reservoir quality we have seen point to a commercial discovery," he said.
If these results are borne out by further appraisal drilling, Phoenix South may represent a new oil province for Australia."

..from Business Spectator

Expand

Going back to post from YA discussing timing for drilling of Levitt-1 in KAR's WA-482-P. This looks increasingly likely to start this year given Apache & Carnarvon have now both come out and said their next well together (Roc-1) won't be til 2015.

Lets hope Apache directs the Atwood Eagle to Levitt in Q4.

KAR Price at posting: $3.49 Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

AIR

Air New Zealand ditches 2030 emissions targets – right as ASIC's Scope 3 reporting changes kick in for FY25

KSN

Mineral Hill transition kicks off for Kingston, gold and silver ramp up to follow

NWH

NRW Holdings voted Wealth Within's hot stock tip

MTL

Mantle Minerals' Nick Poll talks to HotCopper on finding gold grades up to 3.57g/t at Mt Berghaus

Super PITch gold sponsor RSM Australia: Can Diggers & Dealers 2024 be key to reinvigorating IPO activity?

First 2 Last

Add KAR (ASX) to my watchlist

(20min delay)
Last $1.79		Change -0.050(2.72%)		Mkt cap ! $1.460B

Open	High	Low	Value	Volume
$1.82	$1.85	$1.79	$3.735M	2.064M

Buyers (Bids)

No.	Vol.	Price($)
24	61320	$1.79

Sellers (Offers)

Price($)	Vol.	No.
$1.79	113882	53

View Market Depth

No.	Vol.	Price($)
28	77484	1.785
24	274098	1.780
14	227901	1.775
8	313949	1.770
9	66144	1.765

Price($)	Vol.	No.
1.790	116905	53
1.795	136978	27
1.800	132156	16
1.805	159596	16
1.810	329730	13

Last trade - 13.19pm 30/07/2024 (20 minute delay)

KAR (ASX) Chart

Apache and Karoon, page-2

Air New Zealand ditches 2030 emissions targets – right as ASIC's Scope 3 reporting changes kick in for FY25

Mineral Hill transition kicks off for Kingston, gold and silver ramp up to follow

NRW Holdings voted Wealth Within's hot stock tip

Mantle Minerals' Nick Poll talks to HotCopper on finding gold grades up to 3.57g/t at Mt Berghaus

Super PITch gold sponsor RSM Australia: Can Diggers & Dealers 2024 be key to reinvigorating IPO activity?

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Apache and Karoon, page-2

Top Stories

Air New Zealand ditches 2030 emissions targets – right as ASIC's Scope 3 reporting changes kick in for FY25

Mineral Hill transition kicks off for Kingston, gold and silver ramp up to follow

NRW Holdings voted Wealth Within's hot stock tip

Mantle Minerals' Nick Poll talks to HotCopper on finding gold grades up to 3.57g/t at Mt Berghaus

Super PITch gold sponsor RSM Australia: Can Diggers & Dealers 2024 be key to reinvigorating IPO activity?

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News