KAR 3.61% $1.72 karoon energy ltd

Wasn t that well capped and abandoned because it had no oil just...

  1. 1,325 Posts.
    Wasn t that well capped and abandoned because it had no oil just that worthless gas .


    Karoon also talked-up the Buffon-1 prospect, which returned 20% higher gas readings that Woodside's nearby North Scott Reef-1 well, when drilling the proven gas productive reservoirs.

    "There is a strong case that the Buffon-1 well intersected a large gas accumulation," Karoon said.

    The company said results from the 3D seismic survey had "greatly increased resolutions at all levels".

    "[We are] now able to better differentiate the varying volcanic and Plover reservoir interval relationships across the structures," it said.

    "Reservoir (volume and distribution) was recognised as one of the key risks that the 3D seismic was designed to address."
 
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