ConocoPhillips Sets BOP at Zephyros Well (Australia)

Karoon Gas Australia Ltd advises that at 06:00 hours (WST) today, preparations had commenced to run the Blowout Preventer into the Zephyros-1 well, offshore Western Australia.

Since the last report, a 30” conductor was set and cemented at 605 m, the 17-1/2” hole was drilled and the 13-3/8” surface casing was set and cemented at 2691 m. Drilling of the 12-1/4” hole section is expected to commence during the upcoming weekend.

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 GasAustralia Ltd holds 40% of the permit WA-315-P and WA-398-P, and 90% of permit WA-314-P.

Zephyros-1 is the second well in the exploration program, and follows the recent Boreas-1 well. Zephyros-1 is located in permit WA-398-P on the flank of a large tilted fault block approximately 9 kilometres southwest of the Kronos-1 discovery well.

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Press Release, November 28, 2012