Carnarvon Petroleum Ltd. confirms that the Quadrant Carnarvon joint venture has made a significant oil discovery in the Caley Member as part of the current Dorado-1 well drilling campaign, the company said on July 18.

Light oil has been recovered from excellent reservoir containing a gross hydrocarbon package of 96.1 m (315 ft) and a net pay thickness of 79.6 m (261 ft) in highly porous and permeable sands.

The results were confirmed after wireline testing was undertaken at the Dorado-1 well, after it drilled down to around 4,044 m (13,267 ft) measured depth in 8-1/2-inch hole. Currently the well is still in a hydrocarbon bearing column.

Carnarvon Managing Director Adrian Cook said the result is transformational for the company.

“This is a significant discovery given the quantum of the net pay thickness, the quality of the oil and the extremely good reservoir characteristics,” Cook said. “Currently, we estimate the net oil pay is around 80 meters, with more drilling still to come this is very exciting for Carnarvon Petroleum.”