Carnarvon Petroleum Limited (Carnarvon) reported Monday that the Atwood Eagle (DW semisub) has been released from the previous location and is en route to the Phoenix South-1 well location within the WA-435-P exploration permit offshore Western Australia.
The Company’s next scheduled announcement will occur after the Phoenix South-1 well has been spud, anticipated to be on or around the weekend of May 24-25.
Apache Energy and JX Nippon are earning a 40 percent and 20 percent interest in the permit respectively through the drilling of the well down to 14,763 feet (4,500 meters).
The equity interest holders (upon satisfaction of the farm in agreement terms) are:
- Carnarvon Petroleum: 20 percent
- Apache Energy (Operator): 40 percent
- JX Nippon: 20 percent
- Finder Exploration: 20 percent