Australia's Carnarvon Energy jumps on Bedout resources estimates

Carnarvon Energy

04/10/2022 01:16

** Shares of Carnarvon Energy Ltd  CVN.AX  rise as much as
6.7% to A$0.16, their highest since Sept. 23
    ** Oil explorer says top 20 out of more than 100 identified
prospects in the Bedout Sub-basin on the northwestern coast of
Australia have an estimated 1.5 bln barrels of oil  urn:newsml:reuters.com:*:nASX8NSrfW
    ** Says potential resources in Pavo total 66 mln barrels of
oil, with a better success rate of 60%
    ** Stock down ~55.9% this year, as of last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))