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Carnarvon increases offshore acreage

Located in the Roebuck Basin, WA-521-P is located immediately adjacent to the Phoenix/Roc acreage on Western Australia’s North West Shelf (NWS).

“Carnarvon continues to build its North West Shelf portfolio, which now includes the Cerberus blocks, the Phoenix/Roc acreage, the Outtrim block and now WA-521-P,”? said Carnarvon Managing Director and CEO Adrian Cook.

“As we continue to unlock the potential of the Lower Triassic petroleum systems along the North West Shelf, Carnarvon has demonstrated its strategic focus by securing low-cost acreage in highly prospective locations that are capable of being matured ahead of a rising oil price cycle.”?

For the past five years Carnarvon has been studying the potential of the Lower Triassic petroleum system that Carnarvon believes lies along the entire length of the NWS.

The discovery of hydrocarbons (oil, condensate and gas) at the Phoenix South-1 and Roc-1 wells in this Lower Triassic stratigraphy validates this theory leading to Carnarvon securing WA-521-P.

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