Carnarvon Energy Limited (CVN.AX) engages in the exploration, development, and production of oil and gas properties in Australia; it holds a 10% interest in the Dorado oil and condensate project and a 20% interest in the Pavo oil and condensate project, both located in the Bedout Sub-basin offshore Western Australia; additional interests include the Roc, Phoenix, and Phoenix South projects in the same region; the company also pursues carbon initiatives and new energy ventures. Founded in 1983 and headquartered at 76 Kings Park Road, West Perth, Western Australia, Carnarvon primarily targets conventional oil and gas resources on the North-West Shelf to meet rising energy demand, with operations focused in Australian offshore basins. In 2025, Carnarvon completed a strategic investment of A$89 million to acquire up to a 19.9% stake in Strike Energy Limited, becoming its largest shareholder and gaining exposure to Strike's high-quality gas portfolio in the Perth Basin, including production, development, and exploration assets amid growing domestic gas and electricity demand in Western Australia; this move followed a strategic review after delays in the Dorado final investment decision and provides Carnarvon with board nomination rights while preserving its Bedout Sub-basin exposure and financial strength, including at least A$96 million in cash.