KAR 0.28% $1.82 karoon energy ltd

Ann: Poseidon-2 Progress Report No 8 , page-6

  1. 13 Posts.
    To me it sounds like they wanted a geological sample of potential gas bearing sands. So they did some logging, then drilled 5m down. Then sent a coring tool down and cored out 12m.

    If that's the case then it's a very good sign as they obviously want to know exactly what is in this new Montara formation. Which means that it has hydrocarbons or definitely has the potential to have hydrocarbons.

    We have not even touched the Plover yet. They are pulling the core barrel out today so drilling should resume very soon and we should start to hear about the Plover next week.
 
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