Karoon Gas Australia Drills Ahead at Boreas-1 Well in Browse Basin

Karoon Gas Australia said that at 08:00 hours (WST) today, the Boreas-1 exploration well was ready to make up the 12-1/4” bottom-hole drilling assembly prior to running in the hole to drill ahead.

Since the last report a 36” hole was drilled, the conductor was run and cemented at 572 m, a 17-1/2” hole was drilled, the 13-3/8” surface casing was cemented at 2822 m and the BOP and marine riser were run and pressure tested.

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.

[mappress]

LNG World News Staff, April 24, 2012