Australia: Karoon Gas Provides Update on Boreas-1 Well

Karoon announced 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.

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LNG World News Staff, September 20, 2012; Image: Karoon Gas