Carnarvon Energy (CVN) Investor Presentation summary

Strategic focus and financial strength

• Maximizing asset value through accelerated development and exploration in the Bedout Sub-basin, with a well planned for 2H-2026.

• Monitoring industry developments, including the potential Santos takeover, for impact on project timelines.

• Maintaining a robust balance sheet with at least A$96 million cash, a US$90 million capital cost carry, and no debt.

• Keeping corporate costs low, with interest income expected to cover overheads.

Bedout Sub-basin resource potential

• Over 130 identified prospects and leads, with 1.6 billion barrels of liquids and 9 Tcf of gas (gross, Pmean, unrisked).

• Substantial acreage of approximately 11,000 km², with 10–20% equity held.

• Four discoveries in six wells, unlocking over 450 million boe (2C, gross).

• 2026 drilling campaign targets the largest prospects in the northern play fairway.

Exploration and development progress

• Completion of the Bedout Seismic Mega Merge Project, integrating 15,700 km² of high-resolution 3D seismic data.

• Enhanced prospect resolution and resource definition underway using new seismic data.

• Environmental planning and rig engagement in progress for 2026 drilling.