Australia: Karoon Gas Updates on Proteus‐1 Drilling

Karoon Gas Updates on Proteus‐1 Drilling

At 06:00 WST on the 11th of June preparations were being made to commence scheduled BOP testing. Since the last update the sidetrack section, named Proteus‐1ST1,was successfully kicked off from the original Proteus‐1 borehole.

Proteus‐1ST1 was then drilled to a depth of 4493 m in the 8‐1/2” hole section where well control difficulties were encountered. On completion of BOP testing work to regain full well control will be carried out prior to drilling ahead in the 8‐1/2” hole section.

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 kilometers 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, June 12, 2013