Location:

Offshore North Western Australia Bonaparte Basin in the proven hydrocarbon province on the Laminaria High trend where 79% of exploration wells drilled have intersected live and/or paleo oil columns.

 

Geology:

Jurassic horst and tilted fault blocks with primary reservoirs of Mid-Jurassic aged Plover and Laminaria Formations that are the producing intervals in the Laminaria and Corallina fields.

 

Interest:

66% equity.

 

 

 

Potential:

 

Main prospect 'Jania' with up to 20 mmbl potential prospective resources (NPV A$79 million). 5 additional leads have been delineated. The leads lie close to the Laminaria/Corallina production facility with production tie-in potential.

 

JV and work program:

 

The work program is under negotiation with the government. Karoon Gas is currently the operator of the permit with partner Talisman Energy. The program is expected to include intensive geological and geophysical studies to identify targets for drilling.