Carnarvon Adds WA-524-P Permit on Western Australia's NWS to Portfolio

Carnarvon Petroleum Ltd. reported Tuesday that it has been awarded the WA-524-P exploration permit located on the flanks of the Dampier Sub-Basin in the Greater Carnarvon Basin on Western Australia’s North West Shelf.

The 467-square mile (1,210-square kilometer) permit is located on the Enderby Terrace, which contains a number of untested yet attractive play types in a proven basin which includes the Stag, Wandoo and Legendre oil fields, plus the Reindeer gas field.

"Carnarvon is continuing to build its portfolio in anticipation of the next oil price cycle. There are a number of attractive opportunities in this permit that I am confident will become attractive drill prospects in the future. This area will benefit from the application of our technical expertise and recent improvements in technology that were not previously available," Carnarvon's Managing Director and CEO Adrian Cook said in the press release.

The firm has identified 3 potential leads within the block and aims to de-risk the elements of the play, with a number of geoscience work flows. Carnarvon’s technical team will also further investigate the potential of a secondary play system in the shallower Cretaceous stratigraphy, which has seen great success in the nearby Stag and Wandoo oil accumulations.



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