Carnarvon Energy (CVN) Q3 2026 TU earnings summary

Executive summary

• Advanced procurement and environmental approvals for the H1 2027 Bedout exploration drilling program targeting high-impact prospects in the northern Bedout Sub-basin.

• Maintained a strong balance sheet with A$98 million in cash, no debt, and a US$90 million development carry for the Dorado project.

• Continued a lean corporate structure, offsetting administrative costs with interest income from cash holdings.

• Retained an on-market share buy-back program for up to 10% of issued capital, funded from existing cash.

Financial highlights

• Ended the quarter with A$98.1 million in cash and cash equivalents.

• Net cash from operating activities was A$440k for the quarter and A$782k year-to-date.

• Net cash used in investing activities was A$376k for the quarter and A$88.4 million year-to-date, mainly due to the A$86 million investment in Strike Energy.

• Interest income for the quarter was A$1.01 million.

Outlook and guidance

• Preparatory activities for the Bedout exploration campaign are on track for drilling to commence in H1 2027.

• Forecasted expenditures for the upcoming quarter: A$1–1.2 million in Bedout Sub-basin and A$800k–1 million in corporate and other costs.