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Carnarvon Petroleum Director Makes On Market Share Purchases

Carnarvon Petroleum (ASX: CVN) non-executive director William Foster has acquired 250,000 shares of the company in on market trades.

He paid a total of $22,372.56 for the shares, or an average consideration of $0.089 per share, which increased his shareholding up to 528,205 shares.

Foster also holds 156,250 listed options exercisable at $0.10, expiring 29 December 2015.

The company had recently completed the sale of half of its 40% interest in the L44/43, L33/43 and SW1 Concessions in Thailand to Singapore's Loyz Energy (SGX: 594).

Production from L44/43 is also expected to grow by 33% to 4,000 barrels of oil per day with the start of production from the WBEXT-3D well.

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