Carnarvon Petroleum Limited (“Carnarvon”) (ASX:CVN) is pleased to provide the following update on the drilling of the Dorado-1 well.

Progress

The 7” liner was set and cemented in place down to around 4,044 metres Measured Depth (“MD”) and the well has drilled down to approximately 4,620 metres MD.

While drilling through the Crespin and Milne Members, a number of sandstone intervals have been encountered. Elevated gas readings and increased resistivity were observed in interpreted porous and permeable zones, indicating the presence of hydrocarbons.

The positive observations in this additional section of the well warrant wireline logging in order to obtain more definitive results as to, amongst other things, the nature of the hydrocarbons (oil, gas and condensate) and the characteristics of the reservoir.

Current Operations

The rig is currently drilling ahead at approximately 4,620 metres MD.

Forward Plan

The well will continue drilling ahead to a revised deeper total depth of approximately 4,650 metres MD after which a suite of wireline logging tools will be run.

Working interest
Carnarvon Petroleum: 20%
Quadrant Energy (Operator): 80%