Carnarvon Petroleum Limited (Carnarvon) provided Tuesday an update on the work undertaken on EP-490, EP-491 and TP/27 exploration blocks (100 percent Carnarvon) in the Carnarvon Basin in the North West Shelf offshore Western Australia, collectively termed the “Cerberus” blocks, on the first anniversary of the Company being awarded the blocks.
Proven Hydrocarbon Province
Carnarvon’s intentions are to expand its exploration portfolio in the North West Shelf beyond the successful Phoenix blocks, where the Phoenix South-1 oil discovery last year proved a new play type.
The Carnarvon Basin is Australia’s premier hydrocarbon province and resides within the North West Shelf. The Cerberus blocks are within the Carnarvon basin.
Carnarvon was originally attracted to the Cerberus blocks given the areas proven source rocks, effective reservoir and seal combinations and on-trend discoveries providing the potential for significant discoveries in this acreage.
The Carnarvon team has extensive knowledge of the Carnarvon Basin, including its knowledge of the early Triassic petroleum systems discovered in the Bedout Sub basin through the Phoenix South-1 oil discovery in 2014, and has utilized this knowledge to identify two outstanding new oil prospects within the Cerberus Blocks. The team believe these two prospects to be the first of many in the Cerberus Blocks.
Proximal Oil and Gas Fields
The three fully owned Cerberus blocks cover a combined area of approximately 1,236 square miles (3,200 square kilometers) within close proximity to some of the country’s largest and most prolific oil and gas fields.
To the north of the Cerberus area, the Wandoo Oilfield had an estimated 250 million barrels of oil originally in place at a depth of approximately 1,969 feet (600 meters).
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