Karoon Gas (ASX: KAR) and ConocoPhillips (NYSE: COP) have intersected a potential gas bearing reservoir at their Zephyros-1 well in the Browse Basin offshore Western Australia.
The well intersected a sandstone interval characterised by a higher rate of penetration, sandy drill cuttings and an increase in mudlog gas readings.
Coring operations will be undertaken to allow more extensive analysis of rock properties in potential reservoir intervals in the Zephyros-1 well.
On completion of the coring and drilling operations to Total Depth, wireline logging, pressure and sampling programs will be used to define the thickness and properties of any sands penetrated and the presence and characteristics of any movable hydrocarbons which they may contain
Zephyros-1 is located in permit WA-398-P on the flank of a large tilted fault block about 9 kilometres southwest of the Kronos-1 discovery.
It was drilled to test the extent, presence and quality of Plover formation reservoirs.
Operator ConocoPhillips, which has a 60% stake in WA-398-P and WA-315-P, plans to utilise the Transocean Legend semisubmersible for the entire campaign of at least five wells 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 about 14 kilometres southeast 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.