Carnarvon continues to make great strides towards our overall vision of unlocking the full potential of the Bedout sub-basin offshore Western Australia.  

We have identified more than 100 prospects across our four Bedout permits and the top five prospects in each permit have been re-assessed following the successful Pavo discovery this year.

The combined gross mean prospective resources of these top 20 prospects is more than 1.5 billion barrels of oil equivalent (boe), showcasing the remarkable upside potential of the basin, where we have already made significant discoveries at Dorado, Pavo and Roc.

I outline some of these potential near-term opportunities in this month’s video address to shareholders, which can be watched in full below.

At Carnarvon we are particularly excited about potentially building upon this year’s success at the Pavo discovery and proving up the low-risk Pavo South accumulation.

A find at Pavo South could add a further 67.9 million boe of mean prospective resources and would de-risk several other nearby prospects, such as Tornin, which is estimated to hold gross mean prospective resources totalling 60.7 million boe.

Another near-term drilling candidate is Ara, a potential 202.4 million boe gas prospect in WA-435-P, estimated to hold nearly 600 billion cubic feet of gas, along with 100 million barrels of associated condensate.

A discovery at Ara would de-risk other nearby prospects with the potential to hold several trillion cubic feet in aggregate gas resources. This would also provide further confidence for the gas-focused second phase of development at Dorado.

We are now working with our joint venture partner Santos to high-grade several of the top prospects to determine where we focus our near-term drilling campaigns, and we look forward to sharing those plans as they unfold.