Quadrant Energy and its junior partner Carnarvon Petroleum are fuelling hopes for a new oil province in Australia after striking oil in their Dorado-1 well off the north-west coast.

The discovery in the Roebuck Basin off northwestern Western Australia caused Carnarvon Petroleum shares to jumped 57% after what CEO Adrian Cook is calling a “shallow water discovery”.

He tells Ross Greenwood “that’s the offering we provide to investors”.

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