Since the 17 April 2014 Poseidon North-1 Progress Report, 9-5/8' casing was run and cemented at 3,820 mRT. The 8-1/2' hole was then drilled to the final well Total Depth of 5,288 mRT. Final Total Depth was reached at 15:00 WST on Monday 5th of May and was followed by a wireline logging programme.

Based on cuttings, mud gas and wireline log data, Karoon interprets that the Poseidon North-1 well intersected gas bearing sands of Jurassic age across a 20 metre gross, 12 metre net reservoir interval. However pressure data is inconclusive and sample analysis remains outstanding which is required to confirm the presence of mobile gas. The well will now be plugged and abandoned with no further evaluation planned. At 0600 WST on 13 May 2014, Poseidon North-1 plug and abandonment operations were underway.

Tags: Karoon Gas Australia Ltd