Disclaimer The Resource estimates outlined in this report have been prepared by the Companys Chief Operating Officer, Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga has over 25 years experience in petroleum…
Snapshot Business Oil & gas exploration / development in North Western Australia Financial Market capitalization A108m, cash A49m, enterprise value A59m Ownership Top 20 hold 24%, Board & management hold 6% Catalysts 2018 Phoenix…
Extensive project portfolio 4
2018 Focus Project 2018 focus Phoenix Phoenix Sth-3 well (March 2018) 29 mmboe net CVN Dorado-1 well (May 2018) 25 mmboe net CVN (primary) 89 mmboe net CVN (secondary) Buffalo Progress to drill in oil field 31 mmbbls net…
Phoenix project 6
2018 focus on lower risk targets, massive upside History 2014 Phoenix Sth-1 oil discovery in Barret interval 2015 Roc-1 oil & gas discovery in Caley interval 2016 Roc-2 appraisal of oil & gas discovery in Caley 2017 Phoenix Sth-2…
Phoenix South-3 well Well spuds March 2018 - 550m from Phoenix South-2 discovery (PS-2); - PS-2 intersected oil and gas in Caley interval; - high confidence well will intersect oil and gas; - objective to evaluate reservoir &…
Dorado-1 well Well spuds May 2018 - 15 km from Roc discoveries in Caley interval, - targeting oil and gas in the Caley interval; - also testing for oil and gas in deeper sands; - Trap similar to those working in Gippsland…
Buffalo project 10
New technology better images oil field potential Previous field produced 20 mmbbls CVN focused on unproduced area 11
Clear and compelling project 31 million barrels US2.0 billion in revenue at current oil prices Development costs expected to be US5 per barrel Operating costs WIP most sensitive to FPSO cost CVN owns 100% controlling current work…
Current status Subsurface Mapping is underway on stage III FWI processing being prepared for optimal development planning Drilling Drill locations and well plans will be finalized once the subsurface and modelling work are complete…
Labyrinth project 14
1.5 billion barrels recoverable Opportunity interpretation of reprocessed 2-D seismic reveals significant prospects Source proprietary data and knowledge highlights key oil source in region Labyrinth prospect is the largest identified…
Condor project 16
Prospects in oil and gas rich basin Acquired November 2017 (AC/P62) Targeting oil near existing oil fields Differentiator new 3D seismic Plan farm out in 2018/19 17
Outtrim project 18
Belgravia prospect Swell-1 well drilled in 2017 - Gas over 450m gross column - Gas in tight reservoir s Belgravia prospect - Updip of Swell - 650m shallower than Swell Encouraging that Swell-1 proved there is a working…
Maracas project 20
Stacked pay potential in proven oil producing basin FWI reprocessing aimed at Stag & deeper intervals 21
Wrap up 22
North West Shelf focus and expertise Extensive portfolio with a pipeline of opportunity Near term catalysts in next 12 months - Phoenix South-3 well (March 2018 spud) - Dorado-1 well (May 2018 spud) - Buffalo development plans and…
Supplemental information
Supplemental information to the presentation Content: 1. Project portfolio summary 2. Oil & gas volume summary 3. Buffalo project 4. Phoenix project 5. Labyrinth project 6. Outtrim project 7. Maracas project 8. Cerberus…
Portfolio permit locations and equities 26
Project portfolio - summary Project Permits Equity holders Status Buffalo WA-523-P CVN 100% Appraisal to oil field redevelopment Phoenix WA-435-P & WA-437-P CVN 20% & Quadrant Appraisal and exploration of discovered oil and Energy…
Oil & gas volume summary (51 million barrels recoverable net 2C) Refer to Carnarvons ASX announcements of 14 November 2016, 28 March 2017 & 28 August 2017 for comprehensive details of 28 these volume estimates. These resources were…
Oil & gas volume summary (2,480 million barrels recoverable net Pmean) Refer to Carnarvons ASX announcements of 14 November 2016, 28 March 2017, 8 May 2017, 13 June 2017 for comprehensive 29 details of these volume estimates. These…
Oil & gas volume SPE definitions Carnarvon calculates reserves and resources according to the SPE/WPC/AAPG/SPEE Petroleum Resource Management System (SPE-PRMS) definition of petroleum resources. This was first published in 1997 by the…
Oil & gas volume - summary Buffalo project Buffalo contingent resources fall within the Development Pending category. Once Carnarvon finalises its redevelopment work the resources can be reclassified as reserves under the category…
Buffalo project - background The Buffalo field was discovered in October 1996, when BHP Petroleum tested the Buffalo-1 well. The well flowed at 12,000 bpd of light 53 API oil. The oil has a particularly low gas oil ratio of 110. The…
Buffalo project technology solution Based on Carnarvons experience trialing the first use of FWI (Full Waveform Inversion) technology in Australia in the Phoenix project, Carnarvon was in a position to immediately foresee the…
Phoenix project - background The Phoenix project (WA-435-P, WA-436-P, WA-437-P & WA-438-P) is located in the Bedout sub- basin approximately 150 kilometres offshore from Port Hedland in Western Australia. During the global financial…
Phoenix project Phoenix South In late 2016 / early 2017 the Phoenix South-2 well intersected the top of the primary reservoir and discovered oil and gas, but did not fully evaluate the resource due to the level of pressure…
Phoenix project - Dorado The Dorado prospect is only some 15 kilometres south of the Roc discoveries with an interpreted multi sand reservoir covered by the same top shales that seal in the Roc oil and gas. Those shales are also…
Phoenix project seismic cross section 37 Refer to Carnarvons ASX announcements of 14 November 2016 and 28 March 2017 for comprehensive details of these volume estimates. These resources are calculated using probabilistic…
Phoenix project development concepts The oil and gas discovered to date and to be targeted in 2018 very much suits a development that ties the oil and gas back to a central well head platform and offshore primary processing. Oil would…
Labyrinth project - background The Labyrinth project (WA-521-P) is located in the Rowley Sub-basin, offshore North West Shelf, north of Carnarvons Roc and Phoenix South hydrocarbon discoveries. The interpretation of newly reprocessed…
Labyrinth project - volumes Three source rocks are mature and generating today in WA-521-P, comprising the proven Lower Jurassic Murat siltstone, Lower Depuch carbonaceous shales and Upper Triassic marine shale of the Upper Keraudren…
Outtrim project - Belgravia prospect The Outtrim project (WA-155-P(1)) is located in the Exmouth basin and contains the significant Belgravia prospect in the Triassic interval. The prospect is similar in size and geology to the nearby…
Maracas project - background The Maracas project (WA-524-P) is situated on the flanks of the Dampier Sub-Basin, a part of the highly prospective Greater Carnarvon Basin, on Western Australias North West Shelf. This large 1,210km…
Board of Directors Peter Leonhardt Chairman An independent company director and adviser with extensive business, financial and corporate experience. Peter is a Chartered Accountant, former Senior Partner with PricewaterhouseCoopers…
Management team Adrian Cook Managing Director & Chief Executive Officer Philip Huizenga Chief Operating Officer Dr Stephen Molyneux Exploration Manager Dr Jeff Goodall Chief Geologist Andrew Padman Chief…
Roc-2 flow test 46
Corporate 1. ASX ticker CVN Shareholder analysis at 31 Dec 2017 2. Shares on issue 1,028 million 3. Share price (16/1/18) 10.5 cents 4. Market capitalization (16/1/18) 108 million 5. Cash on hand (31/12/17) 49 million 6. Substantial…
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