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Karoon Gas Australia Discovers Oil in the Kangaroo-1 Exploration Well

25 Jan 2013  |  09:48:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Karoon discovers oil in the Kangaroo-1 exploration well

Karoon Gas Australia reported that as at 600 hours BRST on 24 January 2013, the company had confirmed the discovery of oil at the Kangaroo-1 exploration well. The well was drilled to a depth of 3049 mRT and a light oil column has been confirmed by mudlog, wireline petrophysical and MDT pressure data of the Eocene aged rocks. A gross oil column of 25m and an oil water contact has been established from pressure data interpretation. A wireline program is underway and full results are expected in the coming days. A decision to run a drill stem testing program will be assessed at the completion of the wireline evaluation program.

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