Karoon Gas (ASX:KAR) is preparing to drill ahead in the 12-1/4" hole section of the Zephyros-1 well at its WA-398-P permit in Western Australia.
It was drilling out cement at the 13-3/8" casing shoe, which was set and cemented at 2691 metres, prior to drilling the hole section.
It has already completed the mechanical repairs and maintenance of the blow out preventers and the BOP's and marine riser run to the seafloor.
The permit is being operated by ConocoPhillips, which jointly holds the WA-314-P, WA-315-P and WA-398-P Browse Basin permits that were part of the Poseidon and Kronos gas discoveries.
Karoon Gas holds 40% of the permit WA-315-P and WA-398-P and 90% of permit WA-314-P.
The Zephyros-1 well is the second well in the exploration program and follows the recent Broeas-1 well.
The joint venture's exploration program, operated by ConocoPhillips, plans to utilise the Transocean Legend semi- submersible rig for the entire campaign, which is expected to continue throughout this year.
A minimum of five wells will be drilled during the exploration program. The principal objective of the exploration program is to better define the size and quality of the hydrocarbon accumulations within the exploration permits which contain the greater Poseidon trend.
The third well, Proteus-1, is located in WA-398-P on a large tilted fault block approximately 14 kilometres south east of the Poseidon-1 discovery location.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.