Small-cap oiler Carnarvon Petroleum Limited (ASX: CVN) last week reported a "significant" oil discovery in the Caley Sandstone interval during the Dorado-1 well drilling campaign off the Western Australian coast, which saw its share price jump 135% from 14c per share on July 11 to close off Friday trade at 33c.
An article in The Australian on July 20 saw Woodside Petroleum Limited (ASX: WPL) chief commenting that the Carnarvon find "enthuses our explorers" – Woodside has acreage in the same basin.
According to Woodside's second-quarter report for the period ended June 30 2018, its Ferrand-1 exploration well in Western Australia intersected a 69m gross gas column that the company is assessing for its viability.
Also in the energy space, Oil Search Limited (ASX: OSH) shares have surged upwards of the back of news PNG LNG, which Oil Search has a 29% interest in, has entered into a purchase agreement with PetroChina for LNG supply – commencing this month.
Santos Ltd (ASX: STO) and Beach Energy Ltd (ASX: BPT) are hoping for a better run this week after closing off last week in the red.
