On 24th of January, Karoon Gas Australia Ltd had confirmed the discovery of oil at the Kangaroo-1 exploration well.
Kangaroo-1 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 25 metres 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.
As this was not the primary target at Kangaroo-1, the well intersected the Eocene reservoir section 300 metres down dip from the trap crest as interpreted on seismic mapping. A potential gross hydrocarbon column of approximately 350 metres is estimated for the entire trap.
The discovery of oil in Eocene aged reservoirs at Kangaroo-1 provides additional confidence in the other prospects within Karoon’s Blocks including the Emu/Cassowary and Bilby exploration targets.
The Kangaroo-1 well is located within Blocks S-M-1101 and S-M-1165. The evaluation program is expected to continue through February with results being released as they become available.
[mappress] Press Release , January 25, 2013