Australia: Karoon Gas Provides Update on Proteus‐1 Drilling

Karoon Gas Provides Update on Proteus‐1 Drilling

On the 5th of July preparations were being made to pressure test 7 ‐ 5/8” liner in the Proteus ‐ 1ST1 borehole. Since the last update, the 8 ‐ 1/2” hole section was drilled from 4494m to 4561m before running and cementing the 7 ‐ 5/8” liner.

Drilling in the 6 ‐ 1/2 hole section is expected to commence early next week.

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 Greater Poseidon gas discoveries.

Karoon Gas Australia Ltd holds a 40% equity interest in permit WA‐ 315‐ P and WA‐ 398‐ P, and a 90% interest in permit WA‐ 314‐ P.

Proteus‐ 1 is the third well in the exploration program.

Proteus‐ 1 is located in permit WA‐ 398  P on a large tilted fault block approximately 14 kilometres south south east of the Poseidon‐ 1 discovery well.

The Transocean Legend semi‐submersible rig is drilling the exploration well, which is operated by ConocoPhillips.

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LNG World News Staff, July 7, 2013