CVN 0.00% 20.0¢ carnarvon energy limited

'stars in 2013' presentation today in sydney

  1. 623 Posts.
    Today managing director Adrian Cook will present to investors at the Proactive Investors' "Stars in 2013" forum today in Sydney.Any one going ?

    Can't see this doing anything but being a positive for the SP & exposing the current potential of the Phoenix South Prosepct to more investors.This should in turn help the SP creep up before further news of spudding & also upcoming drilling in Thailand you would think ?

    Below is a snippet from 'Proactive Investors' last article on CVN to put things in prospective of current upside potential:

    "The multi-Tcf of gas Phoenix South-1 well represents a game changer for Carnarvon Petroleum.

    While its current net Proved and Probable Reserves in Thailand stands at a respectable 12.2 million barrels of oil, this is dwarfed by the potential of the Phoenix South prospect.

    At a 20% interest, a successful discovery could give the company access to multiple hundred billion cubic feet of gas and up.

    To put this into prospective, current domestic gas prices in Western Australia are about A$8 per gigajoule (about 920 cubic feet of gas) while current LNG pricing in Asia is about double of that. This would mean prospective revenue of between $870 million and $1,740 million for every 100 billion cubic feet of gas.

    Both Apache and JX Nippon are multi-billion energy producers and developers of energy with Apache well familiar with exploring in the region, which considerably de-risks the well."





 
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