Karoon Gas (ASX: KAR) has made an oil discovery at its Kangaroo-1 exploration well in the Santos Basin offshore Brazil.
Mudlog, wireline petrophysical and MDT pressure data confirmed that Kangaroo-1 had intersected 25 metre gross light oil column with an oil water contact in Eocene aged rocks.
A wireline program is underway and full results are expected in the coming days. This will be followed by a decision on running a drill stem testing program.
While not the primary target at Kangarro-1, the discovery of oil in Eocene aged reservoirs at Kangaroo-1 provides additional confidence in the other prospects within Karoon’s Blocks including the Emu/Cassowary and Bilby exploration targets.
Kangaroo-1 is located within Blocks S-M-1101 and S-M-1165. The evaluation program is expected to continue through February with results being released as they become available.
It will be followed by the Emu-1 and Bilby-1 wells in blocks S-M-1102, S-M-1137 and S-M-1166.
These wells will evaluate multiple targets at the Miocene, Eocene, Maestrichtian, Campanian and Santonian levels.
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