Karoon Gas Starts Browse Basin Drilling Program

Karoon Gas has spudded the Boreas-1 well in its 2012 Browse Basin drilling program offshore Western Australia.

This is the first of the five well of the program, which will better define the size and characteristics of the greater Poseidon structure. The Boreas-1 well targets a large tilted fault block in WA-315-P about 4 kilometres south of the Poseidon-1 gas discovery that is part of the northeast trending structural high of the greater Poseidon structure.

The exploration program, operated by ConocoPhillips, plans to utilise the Transocean Legend semi-submersible rig for the entire campaign and is expected to continue through 2013.

The second well, Zephyros-1, is located in permit WA-398-P on a large tilted fault block approximately 8 kilometres south west of Kronos-1 discovery location.  The third well, Proteus-1, is located in WA-398-P on a large tilted fault block approximately 14 kilometres south east of the Poseidon-1 discovery location. 

Additional well locations for the remainder of the program will be announced as they obtain joint venture approval.