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KAROON GAS AUSTRALIA LIMITED

ASX: KAR

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Karoon Gas Australia is an ASX listed energy exploration company, whose core strategy is to explore and develop acreage that is highly prospective for oil and gas.

Offshore Browse Basin

The permits WA-314-P, WA-315-P and WA-398-P are located 460km north of Broome and straddle the northern and eastern flank of the Scott Reef-Buffon high trend. Water depths over most of the permits range between 470 and 540m. The Karoon permits, including the recently discovered (2009) Poseidon Field, are immediately on trend with the giant Scott Reef (Torosa)/Brecknock/Calliance gas fields (Plover Formation reservoirs), discovered from the 1970s and held by the Woodside Joint Venture. The Poseidon field has a Contingent Resource in the range P90-3 TCF, P50-7TCF and P10-15TCF (Karoon assesment post Poseidon-1), reservoired in Plover Formation sands. The Contingent resource has been independently verified by DeGolyer and MacNorton based on the Poseidon-1 well and the pre-drill seismic data set, giving Karoon a 'high estimate' net value of 7.6 TCF wet gas (Gross =19 TCF).

Offshore Bonaparte Basin

The ACP8 permit is located 580km northwest of Darwin within the proven hydrocarbon province of the Laminaria High trend. Exploration drilling on this trend has successfully resulted in the discovery of a number of oil fields, (Laminaria, Corallina, Buffalo, Kuda Tasi, Jahal, Kitan) all close to ACP8.

Offshore Santos Basin

The five Karoon blocks 1037, 1101, 1102, 1165 and 1166 are located 220 kilometers off the coast of Santa Catarina state, just south of Rio de Janeiro. They lie in relatively shallow water (300-400m) on trend with the Piracucá (oil), Caravela (oil) and Merluza (gas) fields. In April 2009 Petrobras/Respol declared the BM-S-7 Piracucá light oil field a commercial discovery. The field is only 5 kilometers to the northeast of Karoon acreage and is reported to contain 550 Mmboe in place (Repsol, 2009). The Late Santonian reservoirs produced 3476 bopd with 126,800 m3/d of gas in preliminary tests (Repsol, November 2009). Petrobras is currently considering a FPSO development that could be tied to a number of the discoveries in the designated Pólo Sul shallow water area (Petrobras, 2009). Karoon now has a large and comprehensive database over the Santos Basin having purchased well data and 20,500 km of regional 2D lines and 6000 sq km of 3D seismic data. Karoon has reprocessed 2500 sq km PreSTM and 900 sq km PreSDM providing a unique insight into Karoon's acreage and surrounding blocks.

Offshore Tumbes Basin

The Karoon offshore Peru acreage block Z38 is in water depths from 200 to 700m and is located 56km west of the city of Tumbes and 39km west of the Caleta Cruz (refurbished dock and 135 MW proposed power plant). In addition to the port city of Tumbes with its energy markets and infrastructure it is also close to the border of Ecuador and Ecuador’s most populous city, Santiago de Guayaquil.

Onshore Maranon Basin

Karoon’s Block 144 is located on the eastern side of the Andes mountain range within the onshore Marañón Basin. The basin is the largest Peruvian sedimentary basin. It forms part of a much greater sub-Andean basin system that extends into the prolific Oriente Basin in Ecuador and the Putumayo Basin in Colombia. This large sub-Andean basin is a proven petroleum province with oil fields in all three countries. In Peru, the Marañón Basin is producing oil in the north and central areas of the basin from the fields in Block 1-AB, Block 67 and Block 8 with initial reserves of 720Mmbo, 250Mmbo and 320Mmbo respectively.

Mine For

oil, gas

Location of operation(s)

Western Australia, Peru, Brazil

Australian Basins

Browse, Bonaparte

Address

Se 7A, 34 - 38 Lochiel Ave
MT MARTHA, VIC, AUSTRALIA

Phone

(03) 5974 1044

Email

Website


Last Updated

23/03/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.