Karoon Gas: Drilling of Grace-1 to Begin Next Week (Australia)

November 22, 2013

Karoon Gas Australia sad that the drilling of Grace-1 well is expected to commence early next week with the primary Lower Plover formation target in the upcoming hole section.

The 7‐5/8” liner was being cemented in place at 4,118 metres prior to drilling ahead in the 6‐1/2” hole section.

Since the 8th November 2013 Grace‐1 progress report, the 8‐1/2” hole section was drilled to 4,120 metres before running the 7‐5/8” liner to a depth of 4,118 metres.

The 8‐1/2” hole section was drilled through the Jamieson formation and into Jurassic aged volcanics. Elevated gas readings were encountered across a zone which is interpreted as fractured vocanics and trace sand was reported from cuttings. However, there was no significant sand development evident.

Grace‐1 is the fourth well in the current exploration program, and located in permit WA‐31 P on a separate structural trend to the previously announced Greater Poseidon gas discoveries. The well is located in a crestal position on a large fault block approximately 35 kilometres north of the Poseidon field.

ConocoPhillips is the operator of the jointly held WA‐314‐P Browse Basin permit in which Karoon Gas Australia Ltd holds 90%.

The Transocean Legend semi‐submersible rig is drilling the exploration well.

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LNG World News Staff, November 22, 2013; Image: Karoon Gas