Carnarvon has agreed to farm-in for a 35% stake in the TR/3 retention licence which contains the previously discovered Blencathra oil resource, WA-155-P containing the Outtrim-1 oil discovery and WA-486-P.
In order to earn its stake, Carnarvon will fund 35% of the cost of drilling the Outtrim East-1 well which is scheduled to spud in the middle of the year using the jack-up Noble Tom Prosser.
Outtrim
