Latest Carnarvon Energy (ASX:CVN) News

Carnarvon Energy has committed up to $89 million to acquire nearly a 20% stake in Strike Energy, gaining strategic exposure to Western Australia’s growing gas market while maintaining its own development plans.

Carnarvon Energy has announced a strategic on-market buy-back of up to 10% of its shares, signaling confidence despite the recent deferral of its Dorado Development Project.

Carnarvon Energy reports a robust cash balance of A$187 million amid delays in the Dorado project development following Santos' decision to pause FPSO acquisition. The renewal of Bedout Basin exploration permits offers a pathway to future drilling in 2026.

Carnarvon Energy and its partners have deferred key milestones in the Dorado Phase 1 liquids development, pushing back the Final Investment Decision and FPSO purchase. Despite the delay, the Joint Venture remains confident and plans further exploration drilling in 2026.