(NewsDirect)
Carnarvon Energy Ltd(ASX:CVN) CEO Adrian Cook tells Proactive the company is taking stepsto unlock further oil and gas resources in the Bedout Sub-basinoffshore Western Australia with evaluation of 3D seismic dataresulting in an unrivalled spread of highly attractive prospects. Theinterpretation work has led to the joint venture (JV) targeting fivestrategic prospects containing a combined material resource of 623million barrels of oil equivalent (gross, unrisked Pmean). He saysthey’ve been strategically selected for their potential to buildresource scale, de-risk significant prospectivity within nearbyclusters and strengthen a number of development opportunities.
Cook said: “Asevidenced by Carnarvon’s recent partial divestment of a 10% interestin its Bedout assets to CPC Corporation, Taiwan, the Bedout Sub-basinrepresents Australia's most prospective and exciting offshoreexploration acreage.
"The latest interpretation results emphasise thesubstantial amount of prospective running room to be had if any one ofthe identified resource clusters are successful.
"As weprogressively evaluate the latest 3D seismic data, we have thedifficult task of deciding which of the high-graded targets to drillfirst across a plethora of highly attractiveopportunities.”
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
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