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Carnarvon Petroleum & Quadrant Energy Sign Rig Contract to Drill Dorado-1 Well in WA-437-P

Source: 11/13/2017, Location: Not categorized

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JV partner Carnarvon Petroleum has announced that the Operator, Quadrant Northwest, has signed a contract with ENSCO Australia to drill the highly anticipated Dorado-1 exploration well using the ENSCO-107 jack-up drilling rig.

The Dorado-1 exploration well has a number of large targets. The primary target is the proven Caley Sandstone which Carnarvon estimates to contain a mean prospective resource of 545 bscf of gas and 31 mmbbls of condensate. The Milne Sandstone is a secondary target which may contain up to four additional sands of a similar size, albeit with a slightly higher risk. The prospective resource estimates for the Dorado-1 well are outlined below.

The Dorado-1 well is expected to commence around May 2018 while the Phoenix South-3 well is expected to commence around March 2018. Rigs have now been secured for both wells.

Carnarvon’s Managing Director, Adrian Cook said: 'The results of our 2018 drilling program are expected to be important contributors to our knowledge of the Bedout sub-basin and its near term commerciality. 2018 will be an exciting time with the Phoenix South-3 well evaluating the gas and condensate already discovered in the nearby Phoenix South-2 well, while the Dorado-1 well will be exploring for significant gas and condensate volumes over multiple reservoir sands only some 15 kms from the highly successful Roc-2 well.'

The Dorado-1 well is located within the WA-437-P exploration permit in the North-West Shelf of Australia. The equity interest holders are: Carnarvon Petroleum 20%; Quadrant Northwest (Operator) 80%.

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