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Carnarvon Petroleum non-executive director buys more shares on market

Carnarvon has attracted a great deal of interest with its oil & gas story in the last 12 months.
Gavin Ryan
Upcoming catalysts seem certain to increase the interest

Carnarvon Petroleum Ltd (ASX:CVN) non-executive director Gavin Ryan has purchased 159,140 shares through on-market trades.

The purchase amounted to $69,936 and has increased Ryan’s total holding in the company to 229,240 shares (direct and indirect interests).

READ: Carnarvon Petroleum oil and gas story expected to have many more pages

Carnarvon has attracted a great deal of interest with its oil & gas story in the last 12 months and has upcoming catalysts that seem certain to increase the interest.

Managing director Adrian Cook explained to investors at this week’s Proactive CEO Sessions in Sydney and Melbourne that the company had $98 million in cash to vigorously pursue its strategy.

He said the past year had been significant for Carnarvon but with support from its Dorado project joint venture partner, Santos Ltd (ASX:STO), which was talking up the JV’s potential, the story had a long way to run.

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