| Phoenix South-1 Well Update | |
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Phoenix South-1 well update
11 August 2014
Carnarvon Petroleum Limited ("Carnarvon") (ASX:CVN) is pleased to advise that the Phoenix South-1 well has drilled to a depth of 4,540 metres Measured Depth ("MD"). Drilling 40 metres below the 4,500 metres MD target was undertaken to enable logging tools to reach 4,500 metres. The Operator is currently running wireline formation evaluation tools. These operations are expected to continue for a further 5 to 7 days. Once these operations are complete the Joint Venture will make a decision whether to drill deeper.
Throughout the interval from approximately 4,170 metres MD to 4,540 metres MD, a number of sandstone intervals were encountered. Elevated gas readings and indications of associated liquid hydrocarbons were observed coincident with these sandstone intervals.
The results from the logging based formation evaluation are required before we are able to be more definitive on the well results and further updates will be provided as soon as the relevant information is to hand
The equity interest holders are:
Carnarvon Petroleum 20% Apache Energy (Operator) 40% JX Nippon 20% Finder Exploration 20%
For all enquiries please contact:
Shareholder Enquiries Media Enquires
Mr Thomson Naude Mr Tony Dawe
Company Secretary Professional Public Relations
Phone: (08) 9321 2665 (08) 9388 0944 / 0405 989 743
Email: [email protected] [email protected]
Yours faithfully
Adrian Cook Managing Director Carnarvon Petroleum
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Carnarvon Petroleum Ltd.
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CODE : CVN.AX |
ISIN : AU000000CVN8 |
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Carnarvon Petroleum is based in Australia. Carnarvon Petroleum is listed in Australia and in Germany. Its market capitalisation is AU$ 194.1 millions as of today (US$ 126.7 millions, € 118.4 millions). Its stock quote reached its lowest recent point on June 21, 2013 at AU$ 0.04, and its highest recent level on August 10, 2018 at AU$ 0.70. Carnarvon Petroleum has 1 021 340 032 shares outstanding. |