Karoon sees wider extent at Santos basin oil find

Karoon Gas Australia Ltd. said recovery of additional samples indicates that the extent of its Bilby-1 indicated discovery in the Santos basin offshore Brazil is larger than previously thought.

The company recovered seven oil samples to surface, one of which it opened for early oil quality assessment that showed 33° gravity oil.

The net oil-bearing reservoir is estimated to be 70 m. Reservoir porosity values up to 23% have been interpreted from wireline logs, and further testing is under way, including coring. Once wireline testing is complete, the well on the S-M-1166 block will drill ahead to 4,573 m, where Karoon hopes to find more hydrocarbon-bearing reservoirs down to the Santonian level.

The confirmed stratigraphic extent of the oil bearing reservoirs now includes interbedded sands in rocks of Eocene, Paleocene, and Late Cretaceous age, said Pacific Rubiales Energy Corp., Toronto, which has a 35% participating interest subject to ANP approval.

The Bilby-1 well is positioned 150 m downdip from the trap crest as indicated on seismic data, creating potential for additional prospectivity higher in the structure.

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