Carnarvon Petroleum Limited ("Carnarvon") (ASX:CVN) (OTCMKTS:CVONF) is pleased to provide the following update on its near-term drilling program as advised by the operator, Quadrant Energy.

The GSF Development Driller-1 semi-submersible drilling rig has arrived at the proposed Phoenix South-3 drilling location.

Over the next few days the rig will be anchored in place and ballasted in order to be ready to commence drilling.

Refer to previous announcements available on Carnarvon's website for details of the significant gas and condensate being targeted by this well.
Permit equity owners of WA-435-P: 

Carnarvon Petroleum          20% 

Quadrant Energy (Operator)   80% 

About Carnarvon Petroleum Limited

Carnarvon Petroleum Limited is an oil and gas exploration company, listed on the Australian stock exchange (ASX:CVN), Frankfurt (FRA:CJB) and US OTC (OTCMKTS:CVONF). Carnarvon has an extensive acreage position in the North West Shelf of Western Australia that is designed to offer investors high alpha leverage to the energy sector. The company's near term focus is on maturing oil, gas and condensate discovered in its Phoenix project, with partner Quadrant Energy, and on bringing into production oil from the Buffalo field.



Mr Thomson Naude
Company Secretary
Phone: +61-8-9321-2665

Link: Phoenix South-3 Rig On Location

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