(NewsDirect)
Carnarvon Energy Ltdmanaging director and CEO Adrian Cook talks Proactive through thecompany’s June quarter highlights. He says the majority ofconditions associated with CVN’s divestment of a 10% interest in itsBedout assets to CPC Corporation, Taiwan, for US$146 million have beensatisfied with the final condition progressing well. The companymaintains a strong balance sheet with A$95 million cash and nodebt.
“Duringthe quarter, the key area of focus on the Dorado development pertainedto maturing the scope of work for integrating Pavo into the proposedDorado production facilities, with this work now well advanced,”Cook said in his quarterly statement.
“Another area of focus during the quarter was the planningfor environmental approvals required for post FID activities. Newprocedures for these approvals were established following court actionby a Tiwi Islands group in respect of Santos’ Barossa project. Inshort these now require more extensive stakeholder engagementprocedures which we will factor into the Dorado developmentprocess.”
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