Carnarvon Petroleum Limited has informed that the Atwood Eagle semi-submersible drilling rig has been released from the previous location and is en route to the Phoenix South-1 well location within the WA-435-P exploration permit, offshore W. Australia.
Apache Energy and JX Nippon are earning a 40% and 20% interest in the permit respectively through the drilling of the well down to 4,500 m.
The equity interest holders (upon satisfaction of the farm in agreement terms) are:
Carnarvon Petroleum 20%
Apache Energy (Operator) 40%
JX Nippon 20%
Finder Exploration 20%