RIO DE JANEIRO--Karoon Gas Australia Ltd. (KRNGY, KAR.AU) has found a promising prospect off the coast of Brazil that, if confirmed, could mean the prolific subsalt region extends further southwest and into shallower waters than is currently thought.
The Stingray prospect "could be very significant," with seismic data showing a large geologic structure that could potentially hold billions of barrels of crude oil, said Tim Hosking, Karoon's chief executive of South American operations, in an interview Wednesday
http://www.4-traders.com/KAROON-GAS-AUSTRALIA-LIMI-6497936/news/Australia-s-Karoon-Sees-Brazil-Subsalt-Fields-Extending-Southwest-15252094/
brazil - sub salt.... billions of boe
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