Karoon Gas (ASX: KAR) and ConocoPhillips have observed early signs of gas after recording an increase in mudlog gas readings after intersecting the primary reservoir objective at their Boreas-1 exploration well in the offshore Browse Basin.
While indicating a potential gas bearing reservoir, further wireline logging, pressure and sampling programs will be needed to define the thickness and properties of any sands penetrated and the presence and characteristics of any movable hydrocarbons which they may contain.
Coring operations will also be undertaken to allow more extensive analysis of rock properties in potential reservoir intervals.
Should hydrocarbon bearing sands be confirmed, the joint venture will undertake production testing.
The Transocean Legend semi-submersible rig is drilling Boreas-1 along with the other wells in the exploration program.
At least five wells will be drilled to better define the size and quality of the hydrocarbon accumulations within the exploration permits which contain the greater Poseidon trend.
Boreas-1 is located about 4 kilometres south of Poseidon-1 in WA-315-P on a large tilted fault block which is part of the north-east trending structural high of the greater Poseidon structure.
It will be followed by followed by Zephyros-1 in WA-398-P on a large tilted fault block about 8 kilometres south west of Kronos-1 discovery location and the third well, Proteus-1, is located in WA-398-P on a large tilted fault block about 14 kilometres south east of the Poseidon-1 discovery location.
Karoon Gas holds 40% of WA-315-P and WA-398-P.
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