Carnarvon Energy Limited provided an update on the Pavo-1 well that is currently being drilled in the WA-438-P exploration permit. The Pavo-1 well has drilled down in the 8 ½" hole to around 3,282 metres Measured Depth ("MD").
Multiple sands have been intersected within the Caley to Crespin reservoirs, with logging while drilling tools indicating porous and permeable reservoir intervals with similarity to the Dorado reservoir. Elevated gas readings and increased resistivity were observed between 2,944 metres MD and 3,001 metres MD indicating the presence of hydrocarbons. Wireline logging will be undertaken to obtain definitive results on the nature and extent of the hydrocarbon zone. The wireline logging results will be announced to shareholders upon the completion of the wireline logging program. The well is being secured and the rig is being prepared for down-manning due to potential cyclone activity as a precautionary activity in accordance with industry standard safety plans. Once it has been deemed safe to do so, the drilling rig will be up-manned in preparation for wireline activities. The Company will advise once the wireline operations have commenced.