Karoon to Spud Brazil Exploration Wells in Late 2010 or 2011

Karoon Gas reported that a new 750 square kilometer 3D seismic acquisition program over Karoon's Santos Basin blocks, offshore Brazil, commenced on February 10, 2010, using the WesternGeco seismic vessel Western Patriot.

The objective of this program is to provide uniform, high-quality Wide Azimuth, 3D seismic coverage over Karoon's Santos Basin blocks. This high quality WAZ 3D seismic acquisition program is the first of its kind in Brazil and is designed to image beneath and around salt structures allowing more accurate prospect definition.

This new seismic data will aid in the positioning of exploration wells expected to be drilled in late 2010 or during 2011.