At 06:00 hrs WST, Karoon advises that wireline logs were being acquired in the Boreas-1 well. Since the last report, 108 metres of core was cut and recovered to surface, and the well was drilled to its total depth.
Wireline logging will include pressure testing and sampling programs in order to confirm the LWD and mudlog indications of hydrocarbons which have been seen to date. The results of the wireline program will determine the design of any production testing to be conducted.
If production testing is undertaken, approximately 35 additional days will be required to complete the testing operation.
The Transocean Legend semi-submersible rig is drilling the exploration well, which is operated by ConocoPhillips.
ConocoPhillips is the operator of the jointly held WA-314-P, WA-315-P and WA-398-P Browse Basin permits containing the previously announced Poseidon and Kronos gas discoveries. Karoon Gas Australia Ltd holds 40% of the permit WA-315-P and WA-398-P, and 90% of permit WA-314-P.
Boreas-1 is located approximately 4 kilometres south of Poseidon-1 in WA-315-P on a large tilted fault block which is part of the of the north-east trending structural high of the greater Poseidon structure. The objective of the well is to test the extent, presence and quality of reservoirs within the Boreas-1 fault block.
Upcoming Well Program
The exploration program, operated by ConocoPhillips, plans to utilise the Transocean Legend semisubmersible rig for the entire campaign and is expected to continue through 2013.
A minimum of five wells will be drilled during the exploration program. The principal objective of the exploration program is to better define the size and quality of the hydrocarbon accumulations within the exploration permits which contain the greater Poseidon trend.
The second well, Zephyros-1, is located in permit WA-398-P on a large tilted fault block approximately 8 kilometres south west of Kronos-1 discovery location. The third well, Proteus-1, is located in WA-398-P on a large tilted fault block approximately 14 kilometres south east of the Poseidon-1 discovery location.
Additional well locations for the remainder of the program will be announced as they obtain joint venture approval.
[mappress] Press Release, September 20, 2012