Oil and gas explorer Carnarvon Petroleum Ltd said on Wednesday that drilling results from the Dorado-3 appraisal well in Western Australia confirmed oil and gas reserves.
The wireline logging well has successfully confirmed a hydrocarbon bearing reservoir within the Caley, Baxter and Crespin intervals, the company said in a statement.
Carnarvon owns a 20% stake in the field, with the rest held by Santos Ltd after it acquired Quadrant Energy in 2018.
(Reporting by Niyati Shetty in Bengaluru; editing by Richard Pullin)