Karoon Gas Australia Ltd's Kangaroo-2 appraisal well, located in exploration Block S-M-1165, confirmed a 250 metre gross (135 metre net) oil column in Paleocene and Maastrichtian aged reservoirs, as announced on 26 November 2014.

A multi formation production testing program was successfully completed in the Kangaroo-2 vertical well, the results of which were announced in Progress Report No 6 (23 December 2014) and Progress Report No 7 (6 January 2015). Karoon is the operator and has a 65% interest in the jointly held Block S-M-1165, Santos Basin, Brazil. Pacific Rubiales Energy Corp holds the remaining 35% interest.

Down-Dip Side-track Drilling Results

The objective of the side-tracked well in the down-dip side-track location was to better define the resource size, recovery factors and collect valuable data in the Kangaroo field. This information will be used to build the geological model and early development concepts.

Tags: Karoon Gas Australia Ltd