Carnarvon Petroleum Limited (Carnarvon) (CVN) is pleased to announce that the wireline logging of the
Dorado-3 well has successfully confirmed hydrocarbon bearing reservoir within the Caley, Baxter and Crespin
In the Caley reservoir, being the primary target, the Dorado-3 well intersected predominantly oil bearing
hydrocarbons in high-quality reservoir. Pressure data indicates the reservoir is in communication with the
equivalent reservoirs encountered in the Dorado-1 and Dorado-2 wells. No water contact was identified.
The Caley formation results provide important definition of the required facilities for developing this field,
providing important confidence around progressing to flow test operations.
In the Baxter reservoir, a secondary target, the wireline logging also confirmed that a hydrocarbon column was
encountered with no water contact identified. Pressure data also indicates the column is in communication
with the equivalent reservoirs encountered in the Dorado-1 and Dorado-2 wells.
The Crespin reservoir appears to have encountered hydrocarbons in an area that was expected to be waterwet.
This result may ultimately provide further minor refinement to the resource estimate in this interval.
The Milne interval sought to test a section of the reservoir that provided encouraging indications on seismic
data of thicker and better developed reservoir. The Milne reservoir at the Dorado-3 location proved to be
water wet. The Dorado-3 well tested a small area within the overall Milne reservoir that has proved successful
in the Dorado-1 and Dorado-2 well results. This result will provide further minor refinement to the resource
estimate in this interval, however it is not expected to be material.
Overall, the wireline results in the Dorado-3 well strongly support progressing to the two planned flow tests
of the Caley and Baxter intervals. The flow tests are the last key variable required to progress to development
Managing Director Adrian Cook said
“The key static field uncertainties were largely resolved with the Dorado-1 and Dorado-2 wells. The Dorado-3
well is important in providing critical flow test and fluid data to underpin field development planning and a
final investment decision to progress to development.
The Dorado-3 wireline results strongly support progressing to the flow testing stage.
Dorado has been proven to be a large world class resource, located in an ideal jurisdiction and operated by a
The Joint Venture is now one small step away from entering the front-end engineering and design phase for
the field development, likely to encompass the development and production of the liquids component initially.
I’m very pleased with the result from this well and continue to be incredibly excited for the future of our
Dorado resides in WA-437-P in which Carnarvon holds a 20% interest.