Gentlemen (and Ladys),
At 0700hrs WST, Karoon advises that Boreas-1 intersected the primary reservoir objective
and the drilling assembly was being pulled out of the hole in preparation to commence coring
operations.
The well intersected a sand interval characterized by a ROP (Rate of Penetration) increase,
sandy drill cuttings and an increase in the mudlog gas readings indicating a potential gas
bearing reservoir. Coring operations will be undertaken to allow more extensive analysis of
rock properties in potential reservoir intervals in the Boreas-1 well.
On completion of the coring and drilling operations to Total Depth, wireline logging, pressure
and sampling programs will be used to define the thickness and properties of any sands
penetrated and the presence and characteristics of any movable hydrocarbons which they
may contain.
Production testing will be undertaken should hydrocarbon bearing sands be encountered
and confirmed by the wireline logging and the pressure and sampling programs.
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