CVN Presents September 2019 Quarter Updates; Quarter ended With a Cash Balance of $133M

October 14, 2019 01:44 PM AEDT
Team Kalkine

Carnarvon Petroleum Limited (ASX: CVN) has presented its September 2019 quarter report and emphasised on the successful Dorado appraisal program.

The appraisal well-Dorado-3 provided further confirmation of the very large Dorado resource, which was discovered by the company in 2018.
CVN and Santos Limited (ASX: STO)- the joint venture partner of the company completed a successful flow test of the Baxter reservoir, which exceeded pre -test expectations, before the end of the quarter.
The company signed a Production Sharing Contract with h the Government of Timor -Leste over the Buffalo project.
The signing coincides with the ratification of the Maritime Boundary Treaty between Australia and Timor - Leste which has resulted in the Buffalo oil field project moving into Timor -Leste jurisdiction.
CVN ended the quarter with a strong cash balance of $133 million after an institutional placement.

Disclaimer

The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.