Australia's Carnarvon Energy jumps on elevated gas readings at Port Hedland well

Carnarvon Energy

11/03/2022 04:49

** Shares of Carnarvon Energy  CVN.AX  rise as much as 10.5%
to A$0.315
    ** Stock to mark best day since Feb. 28, if gains holds
    ** Oil and gas explorer says drilling at Pavo-1 well in Port
Hedland observed elevated gas readings and increased resistivity
between 2,944 metres measured depth (MD)and 3,001 metres MD,
indicating the presence of hydrocarbon  urn:newsml:reuters.com:*:nASX8H2sd8
    ** Stock down 16.2% this year, as of last close 

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))