Karoon Confirms Oil Discovery at Echidna-1 Well in Santos Basin

Karoon Gas Australia Ltd. disclosed Monday that a 699 foot (213 meter) gross oil column has been confirmed in the Echidna-1 exploration well in Block S-M-1102, Santos Basin offshore Brazil from wireline pressure data across the Paleocene and Maastrichtian aged reservoir intervals. Physical oil samples recovered measure a 39.5 degree API oil gravity.

As at 0800 hrs AEST April 20, the Echidna-1 exploration well had completed the wireline program and was preparing for the commencement of a production testing program within the Paleocene reservoir section.

Karoon Managing Director Robert Hosking said, “The Echidna discovery represents another significant achievement for Karoon. Echidna adds incremental resource to Karoon’s discovered Kangaroo oil field which further supports Karoon’s ambitions to develop an integrated production hub in the Santos Basin”.

Wireline Results

The Paleocene reservoir interval has a gross thickness of 246 feet (75 meters), 177 feet (54 meters) net, with an average porosity of 25 percent. Oil recovered from wireline MDT samples is 39.5 degree API with a GOR of 750 standard cubic feet per barrel.

The Maastrichtian reservoir interval has a gross thickness of 371 feet (113 meters), 164 feet (50 meters) net, with an average porosity of 21 percent. A pressure defined oil gradient shows the Maastrichtian to have the same oil pressure gradient as the Paleocene reservoir, indicating that the oil API and GOR are very similar to the recovered Paleocene samples.

A deeper Maastrichtian oil column was also intersected in a separate 7 metre sand having an average 23 percent porosity. The interpretation of oil is supported by natural shows and a pressure-defined oil gradient.

The Echidna-1 exploration well is located in Block S-M-1102, on the east side of the “Emu” salt diapir complex, and tested a similar salt flank play first proven by Kangaroo-1 and later confirmed by Kangaroo-2 and its two sidetracks. Results of Echidna further substantiate the validity of the salt flank play.


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