"Karoon Gas is pleased to announce that the final 284 sq km portion of the 3D seismic program (D Lead) was completed on August 3rd 2006. This data will be processed for interpretation in late 2006. Processing of the first 850 square km of 3D seismic data is complete with interpretation and mapping nearing completion. Early results confirm the position and size of the two leads (Updip Buffon and A Lead) in the survey area. Processing of Karoon’s 850 km 2D seismic survey is complete with final processed lines being interpreted in the coming weeks. Improved data quality and coverage has allowed the volcanics and reservoir intervals within the closures to be mapped far more accurately to better define potential reserves, confirming initial potential reserve estimate ranges from the earlier 2D seismic mapping. An extensive and detailed mapping and analysis program is ongoing to best define drilling locations."
from yesterdays ann....could this be the reason for the halt?
KAR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
