Inform explorer Carnarvon Petroleum Limited has announced plans for a key new well off the WA coast that will look to build on the success of the recent Roc gas and condensate discoveries.

Carnarvon reported that it and JV partner Quadrant Energy have committed to acquiring long lead items for the Dorado-1 exploration well and planning for the well is underway.

The company said Dorado-1 will have a number of objectivs, with the primary target the proven Caley Sandstone which Carnarvon estimates to contain a prospective mean resource of 545bscf of gas and 31mmbls of condensate. The Milne Sandstone is a secondary target which may contain equally attractive resources, albeit with a slightly higher risk. The prospective resource estimates for the Dorado-1 well are outlined on page 3 and 5 of this announcement.

Carnarvon managing director, Adrian Cook said the Dorado well is tremendous opportunity to test another quality prospect in the Bedout sub-basin.

“Confirming significant hydrocarbon volumes with this well would strongly underpin the economic proposition in this basin,” he said.

“This well could also play an important part in determining the future development scenarios for the Roc and Phoenix South gas and condensate discoveries. A significant Dorado discovery could be developed as the tie-in point for the Roc and Phoenix South resources with options for the gas to be used purely for domestic use, and/or for LNG purposes.”

The Dorado-1 well is located within the WA-437-P exploration permit in the North-West Shelf of Australia. The equity interest holders are: Carnarvon Petroleum 20% Quadrant Energy (Operator) 80%.