Carnarvon Wins Exploration Rights Offshore Australia

Carnarvon Limited was awarded a new exploration permit, WA-443-P in the Bedout sub basin offshore Western Australia. The new permit is located adjacent to Carnarvon's four existing permits, WA-435-P, WA-436-P, WA-437-P and WA-438-P, which are referred to as the Phoenix permits. Drilling has not been performed on the WA-443-P block, although one large Middle Triassic prospect was identified, named Jaubert, which is a faulted anticlinal closure. The company's three-year work program includes reprocessing and interpreting 345,948 acres (1,400 square kilometers) of existing 2D seismic. Geological and geophysical studies will also be performed.

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