MELBOURNE: Australia’s Quadrant Energy and Carnarvon Petroleum have found an oil field off Western Australia that analysts said could be the biggest discovery in the area for more than 20 years, potentially turning both into takeover targets.
Describing the find as ”truly incredible”, junior joint venture partner Carnarvon said on Wednesday more oil had been found in the Dorado-1 well, with the thickness of the oil column now measured at 132 metres.
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