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Carnarvon Energy Limited ( (AU:CVN) ) has issued an update.
Carnarvon Energy Limited announced a delay in the Dorado Phase 1 liquids development project due to the joint venture’s decision not to purchase a Floating Production Storage and Offloading vessel or enter the Front End Engineering and Design stage. This deferral affects the timeline for the Final Investment Decision, previously targeted for 2025. Despite this setback, the joint venture expresses confidence in the Dorado and Bedout Basin assets, planning further exploration in 2026. Carnarvon remains financially strong with substantial cash reserves and development cost support.
More about Carnarvon Energy Limited
Carnarvon Energy Limited operates in the energy sector, focusing on oil and gas exploration and production. The company is involved in joint ventures, including the Dorado project, and has a significant stake in offshore developments in Western Australia.
YTD Price Performance: -24.30%
Average Trading Volume: 28,800
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $172.2M
For a thorough assessment of CVN stock, go to TipRanks’ Stock Analysis page.