Karoon Energy Says Who Dat South Well Confirms Hydrocarbon Discovery

MT Newswires Live10-29

Karoon Energy (ASX:KAR) said the Who Dat South exploration well confirmed hydrocarbon discovery upon reaching a final total depth of 7,014 meters measured depth, according to a Tuesday filing with the Australian Securities Exchange.

The initial interpretation showed hydrocarbon-bearing zones with an aggregate thickness of 98 meters in measured depth and 67 meters in true vertical thickness across Miocene sandstone intervals, the filing said.

Drilling is set to conclude shortly, with the well temporarily suspended as a potential future producer, according to the filing.

The company owns a 30% interest in the Who Dat South joint venture, with LLOG holding 45% and Westlawn Americas Offshore holding the remaining 25%.

Karoon Energy shares fell nearly 2% in afternoon trade.

Price (AUD): $1.36, Change: $-0.023, Percent Change: -1.67%

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