Carnarvon Energy's Prospect Offshore Western Australia Appears Leading Candidate for Upcoming Drilling, Euroz Hartleys Says
MT Newswires Live
May 11
Carnarvon Energy's (ASX:CVN) Ara prospect in the Bedout Sub-basin offshore Western Australia appears the leading candidate for the upcoming drilling campaign, targeting 189 million barrels of oil-equivalent gross mean prospective resources, Euroz Hartleys said in a note on May 8.
The company continues to screen as deep value, supported by a strong balance sheet, exposure to a material discovered resource base, long-term production leverage through the Dorado development, and current strong macroeconomic tailwinds.
The investment firm maintained its speculative buy recommendation on Carnarvon Energy and kept the AU$0.16 price target.
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