Carnarvon Energy Limited (AU:CVN) has released an update.
Carnarvon Energy Limited reports strong financial health with A$180m in cash and no debt, alongside a free carry for the Dorado development project. The company is finalizing the optimization of the Dorado Phase 1 project to significantly reduce initial capital expenditures, with decisions on repurposing FPSOs for the project to be made later this year and the Final Investment Decision expected in 2025. Carnarvon, with the guidance of J.P. Morgan, is actively exploring strategic options to enhance shareholder value, while new Chair Rob Black succeeds Bill Foster to steer the company towards its strategic goals.
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