****Activity is no longer under Australian jurisdiction following change to the Timor-Leste Treaty Boundary in 2019****


Carnarvon Petroleum Ltd. (CVN) has an active exploration focus on Australia’s North Western Shelf (NWS), Western Australia (WA). Holding over 35,000 km2 of exploration acreage, including the 2009 awarded Phoenix blocks (WA-435-P, WA-436-P, WA-437-P and WA-438-P), which contain the Phoenix South, Roc and Dorado discoveries. CVN intend to undertake drilling of one exploration well (Buffalo East-1) and up to two appraisal wells Buffalo East 2 and 3) in the Buffalo field in Australian waters, directly adjacent to the Joint Petroleum Development Area (JDPA). The wells will be drilled within permit area WA-523-P, approximately 560 km north-west of Darwin. Drilling is planned to be completed in Q3 2020.CVN are the titleholder of permit area WA-523-P and will be the operator for the proposed activity.