Karoon Provides Update on Browse Basin Drilling Campaign (Australia)

At 06:00 WST on the 3rd of May, Proteus‐1 well, located in the Browse basin offshore W. Australia, had reached its current total depth of 4740m in the 8‐1/2” hole section. Since the last update the 12‐1/2” hole section was completed with the 9‐5/8” liner being run and cemented to 4168m prior to drilling ahead in the 8‐1/2” hole section. 

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 islocated in permit WA‐398‐P on a large tilted fault block approximately 14 kilometres south east of the Poseidon‐1 discovery well.