As previously announced on
Under the agreement, Carnarvon will receive total cash consideration of US$146MM. This comprises of an upfront payment of US$56MM (equivalent to
The transaction is subject to a number of customary conditions in respect of Joint Venture approval, approval by the
Carnarvon Managing Director and CEO,
Our team has been working closely with CPC since the start of this transaction and, along with the Operator, we are all aligned on progressing the Dorado development to FID as soon as possible. With the Offshore Project Proposal having also recently been accepted, the Joint Venture has all the primary regulatory approvals required to support development of Dorado, unlocking the significant value of this asset and the Bedout Sub-basin more broadly.'
Contact:
Tel: +61 (0)8 9321 2665
This announcement contains certain 'forward-looking statements', which can generally be identified by the use of words such as 'will', 'may', 'could', 'likely', 'ongoing', 'anticipate', 'estimate', 'expect', 'project', 'intend', 'plan', 'believe', 'target', 'forecast', 'goal', 'objective', 'aim', 'seek' and other words and terms of similar meaning. Carnarvon cannot guarantee that any forward-looking statement will be realised. Achievement of anticipated results is subject to risks, uncertainties and inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. You should bear this in mind as you consider forward-looking statements, and you are cautioned not to put undue reliance on any forward-looking statement
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