Karoon is pleased to announce the results of independent reports completed by DeGolyer and MacNaughton ('D&M') for its Prospective Resource volumes across the Browse Basin, the Carnarvon Basin, and the Tumbes and Maranon Basins.

Karoon has calculated the following based on the information contained in the D&M Report, as at 31 December 2013.

Note, permits WA-314-P and WA-315-P are subject to an overriding royalty of 1.4845% increasing to 1.9845% after 5 years of production. Permit WA-482-P is subject to an overriding royalty of 1.49% increasing to 1.99% after 5 years of production.

Tags: Karoon Gas Australia Ltd