Advance Energy PLC advancing on Buffalo funding, finalising capital raising

In December 2020, Carnarvon Petroleum announced an agreement with AIM-listed Advance Energy PLC to join as a partner in the Buffalo project. The project will assess and then work to produce the remainder of the recoverable oil in the Buffalo field in the most efficient manner. Current best estimates show there are around 31 million barrels to produce and given the nature of this field, we expect those barrels to be produced in a very cost-effective manner. Advance Energy is

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Buffalo drilling – near-term tasks underway to drill the Buffalo-10 well

There is a lot to do to prepare for the drilling of the Buffalo-10 well in Timor-Leste later this year. Last year, Carnarvon Petroleum set the groundwork with the preparation of our operating systems and procedures, the establishment of an office and recruitment of staff in Timor-Leste, and interfacing with the Timor-Leste Government to ensure our plans to drill are acceptable. At present our Buffalo team, led by Mark Robertson, is engaging with drilling service management provider Petrofac to finalise

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CEO update: February 2021

Last week we released our December 2020 quarterly report that contained an update on our progress across the business during the quarter. As I covered in my note in that report, subject to some successes with planned activities during the coming 12 months or so, Carnarvon Petroleum could substantially grow its pool of resources for development beyond what we already have. Another important point is that the Company is targeting low cost production resources.  Santos’ December 2020 Investor Day briefing

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Behind the scenes with Carnarvon’s new Chairman

The recent AGM provided an opportunity to meet and engage with many of our shareholders. It also gave the Board and Executive team an opportunity to further affirm the Company’s plans, outlook and vision for the new year that’s fast approaching. The AGM also provided an opportunity to introduce our recently appointed Chairman Bill Foster. This is obviously an exciting time for the Company as we transition under new leadership towards becoming a viable energy producer. Following is

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