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Carnarvon Energy Limited (ASX:CVN)

ALERT: Price-sensitive ASX Announcement for CVN
Current share price for CVN : $0.100 -0.005 (-4.76%)+
Announcement
Release
28 Apr 2026 8:17AM
Price at Release
$0.105
Full Release
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Summary
Carnarvon Energy Limited's quarterly activities report highlights a robust financial position with A$98 million in cash and no debt, and strategic investments including a 19.9% stake in Strike Energy. The company is advancing its Bedout Sub-basin projects, notably the Dorado and Pavo fields, with ongoing preparations for a 2027 exploration drilling campaign. A US$90 million development carry supports the Dorado project. The company also continues its share buy-back program and reports a net cash inflow from operating activities. Exploration activities this quarter focused on environmental planning and maintaining permit compliance.
Key Points
  • Carnarvon Energy Limited reported maintaining a strong financial position with A$98 million in cash and no debt.
  • The company is progressing with the Bedout Sub-basin projects, including the Dorado and Pavo fields.
  • A US$90 million development carry is in place for the Dorado project.
  • Carnarvon retains an on-market share buy-back program for up to 10% of issued capital.
  • Exploration and evaluation activities incurred a net outflow of A$376k related to preparation for the 2027 drilling campaign.
  • The company holds a 19.9% stake in Strike Energy as part of its strategic investments.
  • Carnarvon is preparing for a high-impact exploration campaign in Bedout Sub-basin, targeting significant oil or gas discoveries.
  • The quarterly cash flow report shows a net cash inflow from operating activities of A$440k.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.