Stocks Special Reports LICs Hybrids Technical Analysis Funds ETFs Tools SMSFs
Learn
Video Archive Article Archive
News Stocks Special Reports Funds ETFs Features Hybrids Technical Analysis SMSFs Learn
About

Company News Summary

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.

Please click here for full details

See more ASX300 News Announcements