At 0000 WDT on 26 January 2014, Grace-1 reached total vertical depth at 5069mRT.

A zone of interest was encountered in the Jurassic volcanic interval at approximately 4,000mRT and a wireline logging program including pressure measurement and reservoir fluid sampling has commenced over the zone.

No Plover or Montara formation sands were intersected in the target zone.

The zone of interest was identified from mudlog gas shows and elevated pressures encountered during drilling. The high gas levels and petrophysical logging while drilling responses were sufficiently encouraging to warrant further testing.

The wireline logging program is not yet complete and wireline pressure and sampling data is required before the presence of any gas column can be established.

Tags: Karoon Gas Australia Ltd