Carnarvon Petroleum provides Dorado-1 drilling update
Monday, Jul 09, 2018
Carnarvon Petroleum Limited is pleased to provide the following update on the drilling of the Dorado-1 well.

Progress

The 9 5/8" liner has been set and cemented in place down to around 3,637 metres Measured Depth ("MD"). Some additional time was required to set the 9 5/8" liner, however this has been completed in line with the well design.

Current Operations

The rig is currently drilling ahead in 8-1/2" hole at around 3640 m MD.

Forward Plan

Drill the 8-1/2" hole from 3,640 metres MD to approximately 4,050 metres MD and then, in the event of encountering a significant hydrocarbon column, wireline log the expected reservoir section including formation and pressure testing. The Caley Member is anticipated to be encountered in this section of the well. The well will further be deepened to evaluate the targets of the Milne and Crespin Members below the Caley Member.

Well Objective

The primary objective for the Dorado-1 well is to assess the gas and liquids potential in the Caley Member with the well being less than 20km from and updip of the successful Roc-1 and Roc-2 wells.

The Dorado structure at the Caley interval is estimated to contain a gross mean recoverable prospective resource of 545 Bscf of gas and 30 million barrels of associated condensate (being 125 million barrels of oil equivalent ("boe"), gross, Pmean). Multiple secondary targets have been identified by Carnarvon in the Crespin and Milne Members (see Figure 4 in link below) and these will also be assessed by the Dorado-1 exploration well. See the recently released volumetric strategy update (ASX 23 April 2018) for details on these targets.

Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project and may relate to undiscovered accumulations. These prospective resource estimates have an associated risk of discovery and risk of development. Further exploration and appraisal is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.

For more information, please visit: https://www.carnarvon.com.au
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