Carnarvon Petroleum (CVN)

Shares / Stock Code

CVN

Stock Exchange / Sharemarket

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Carnarvon Petroleum (CVN) is an oil and gas explorer with exploration assets in Thailand and Australia, including a number of assets in Thailand with proven hydrocarbon reserves, as well as production assets. The company’s oil production comes from four fields within the Phetchabun basin in Thailand at Wichian Buri, Na Sanun East, Na Sanun and Si Thep, in which it has a 40% interest. CVN has several oil exploration projects in the Carnarvon basin in Western Australia. The company was listed on the ASX in August 2004. Its head office is situated in Victoria.

Carnarvon Petroleum (CVN) has a 40% joint venture interest in the SW1A project, located in Thailand. The project includes the Wichian oilfield, Si Thep oilfield and Exploration Block License L44/43. The company has diversified its interest by holding shares in Ausam Energy Corporation, a company listed on the Candian TSX Venture Exchange. Most oil is sold into global spot markets, whilst gas is typically sold under long-term contract arrangements with utilities, large industrial users and steel plants. Key competitors include Rio Tinto, BHP, CH4 Gas Ltd (CHX) and Bounty Oil & Gas (BUY).

The Company’s principal assets include the producing fields in the L44/43 and SW1A licenses in the Phetchabun Basin onshore Thailand. A total of 25 wells were drilled in the SW1A permits resulting in 17 commercial oil productions / testing wells. The Company's subsidiaries include Carnarvon Thailand Ltd, Lassoc Pty Ltd and SRL Exploration Pty Ltd. On 28 July 2009 the Company, acquired 100% interest in the offshore West Australian permit covering application block WA-435-P.