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Carnarvon Energy Ends June Quarter With AU$98 Million Cash, No Debt

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Carnarvon Energy (ASX:CVN) ended the June quarter with AU$98 million in cash, no debt and a $90 million development carry for the Dorado project in Western Australia, according to a Tuesday Australian bourse filing.

The company said it contracted Transocean Equinox for the 2027 Bedout Sub-basin drilling campaign over the quarter, with drilling expected to commence in April 2027.

A 92% increase in the Bedout Joint Venture prospective resources portfolio was achieved following completion of the Bedout 3D Seismic MegaMerge project, the filing added.

The company's shares rose 4% on market close.

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