Karoon Gas Australia Spuds Proteus-1 Well

Karoon Gas Australia said that the Proteus ‐ 1 exploration well was spudded at 04:28 hours (WDT) today, 25 March 2013.

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 Greater Poseidon 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. 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 east of the Poseidon ‐ 1 discovery well.

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LNG World News Staff, March 25, 2013