Drilling at Pharos-1 Carries On, Karoon Gas Reports

Karoon Gas Australia Ltd  has released a Pharos-1 exploration well, WA-398-P progress report.

As at 0600 WST on 30 May 2014 the cement shoe at the bottom of the 13-3/8″ casing has been drilled out and preparations are being made to drill ahead in the 12-1/4″ hole section.

Since the last update, the 17-1/2″ hole section was drilled 1,614 metres to a depth of 2,330 mRT before running the 13-3/8″ casing to 2,316 mRT where it was cemented in place. BOP and riser installation was then completed in preparation for drilling ahead in the 12-1/4″ hole section.

Pharos-1, the sixth and final well in the Browse Basin Phase 2 Exploration Drilling Campaign is located approximately 9 kilometres north east of Proteus-1 and will be a further test of the Proteus- Crown trend.

Pharos-1 is targeting an extension of the discovery made at Proteus-1 which established excellent reservoir quality and condensate bearing gas in the Montara formation. Pharos-1 is a low risk exploration well with the potential to add considerable resource to any future Poseidon development.

The exploration campaign, operated by ConocoPhillips, is using the Transocean Legend semi-submersible rig for the final well. The principal objective of the campaign is to better define the size and quality of the hydrocarbon resource within the exploration permits which contain the Greater Poseidon trend.

ConocoPhillips is the operator of the WA-315-P Browse Basin permit in which Karoon Gas Australia Ltd currently holds 40%.

Press Release, May 30, 2014

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