Karoon Gas Australia Reports Progress on Zephyros-1 Drilling

February 5, 2013

Karoon Gas Australia announced that at 06:00 hours (WST) today, Zephyros-1 was running a 8-1/2” bottom hole drilling assembly into the hole prior to drilling out of the 9-5/8” casing shoe set at 4000m.

The 8-1/2” section is targeted to TD just above the targeted reservoir interval. A 7” liner will then be run and cemented before drilling ahead in a 6-1/2” hole through the targeted reservoir section.

Since the last report, the 12-1/4” inch hole was drilled from 2918m to 4007m and 9-5/8” casing was run and cemented.

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.

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. The objective of the Zephyros-1 well is to test the extent, presence and quality of Plover formation reservoirs.

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LNG World News Staff, February 04, 2013; Image: Karoon Gas