Kangaroo a Santos success for Karoon

Karoon Gas Australia has reported an oil discovery in the Kangaroo prospect offshore Brazil.

Offshore staff

MELBOURNE, Australia – Karoon Gas Australia has reported an oil discovery in the Kangaroo prospect offshore Brazil.

The Kangaroo-1 exploration well, drilled by theBlackford Dolphin semisubmersible to a depth of 3,049 m (10,003 ft), encountered a 25-m (82-ft) light oil column in Eocene-aged rocks. The discovery was 300 m (984 ft) down dip from the tap crest as shown on seismic maps, Karoon said. The company expects a potential hydrocarbon column of about 350 m (1,148 ft) for the entire trap.

The Kangaroo prospect is in the Santos basin blocks S-M-1101 and S-M-1165 in water depths of approximately 400 m (1,312 ft). Karoon was awarded 100% operated interest the blocks, along with S-M-1102, S-M-1037, and S-M-1166, in 2008. In September, 2012, the company reached an agreement to divest 35% of its interest in blocks S-M-1101, S-M-1102, S-M-1037 and S-M-1165 to Pacific Rubiales, which also holds an option to acquire 35% interest in S-M-1166.

Karoon’s Santos basin exploration program will continue with wells at the Emu/Cassowary and Bilby prospects.

01/25/2013

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