Exploration & Production
Karoon Gas Reports Reserves for Peru, Australia Assets
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Karoon Gas has announced the results of independent reports completed by DeGolyer and MacNaughton (D&M) for its Prospective Resource volumes across the Browse Basin, the Carnarvon Basin, and the Tumbes and Maranon Basins.
Karoon has calculated the following based on the information contained in the D&M Report, as at 31 December 2013.
Note, permits WA-314-P and WA-315-P are subject to an overriding royalty of 1.4845% increasing to 1.9845% after 5 years of production. Permit WA-482-P is subject to an overriding royalty of 1.49% increasing to 1.99% after 5 years of production. The net un-risked prospective resource numbers in the table above have been presented before adjusting for any overriding royalties due to the uncertainties around any potential development and production.
The estimated…
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