CARNARVON ENERGY LIMITED (CVN)
Share Price Analysis and Chart

07/04/2026

1

Buy

$0.14

42.86%

Ord Minnett has reviewed its commodity price assumptions and energy sector coverage as the war in the Middle East continues amid considerable damage to production facilities in the Persian Gulf.

The review has resulted in increases to June quarter spot price assumptions, representing a rise of 33% for both Brent crude and LNG. This in turn drives steep earnings upgrades for some producers and more modest changes to others under the broker's coverage.

A price of US$100/barrel is forecast for the first half of 2026 for Brent before a gradual retreat to US$85/barrel in the second half. LNG prices are assumed at US$20/mmBtu in the first half and remain elevated for the rest of the year.

Ord Minnett retains a Buy rating for Carnarvon Energy with a $0.14 target.

01/10/2026

2

Overweight

$0.14

42.86%

Jarden maintains an Overweight rating for Carnarvon Energy with an unchanged $0.14 target price following an FY26 result featuring an NPAT beat driven by lower employee expenses and advisory costs.

Further exploratory drilling in the Bedout Basin is scheduled for April 2027 to inform options for development concepts and backfill opportunities.

The analyst expects gradual progress across the asset, noting the operator is unlikely to commit to new projects over the next two to three years.

The 19.9% shareholding in Strike Energy ((STX)) provides exposure to near-term catalysts including the South Erregulla Power Project and Walyering West development, as well as potential to develop West Erregulla gas through the proposed Belisama Gas Plant, commentary suggests.