Karoon Gas Australia

Karoon Gas Australia’s Echidna-1 well has intersected an oil-bearing section of Paleocene sands in Block S-M-1102 of the Santos basin, offshore Brazil. Mud logs showed elevated gas readings and oil florescence in the sandstones. Future wireline logging will reveal the volume of gross and net oil and gas pay. Additional intervals of interest have been identified in the Maastrichtian section and will be evaluated during the wireline program. Karoon (65%) is the operator with partner Pacific Rubiales Energy (35%).