As at 2000 hrs BRST on 25 November 2014 drilling had been completed at a total depth of 2,369 metres below rotary table (mRT) and a wireline logging program was underway.

Five separate oil bearing reservoir sand intervals over the interval 1,660mRT to 2,000mRT in the Palaeocene and Maastrichtian age formation have been penetrated with each interval having a separate oil/water contact. The gross oil column thickness totals 250 metres, and no gas cap was penetrated. Work is continuing to assess the impact of the well results on the contingent resource size given the absence of an anticipated gas cap and the impact of shallower oil water contacts in some of the sands.

Following further analysis of biostratigraphic data the previously reported Eocene age of the reservoir has now been confirmed as of Palaeocene age.

Tags: Karoon Gas Australia Ltd