Resources Summary The contingent and prospective resource volume estimates presented in the tables below were assessed by Karoons Engineering Manager, Mr Lino Barro, and are based on seismic survey data, geological and engineering well…
Section 1 Karoon investment highlights 4
Transformational Acquisition The Bana acquisition will produce stable cashflows over the medium to long-term, enabling Karoon to pursue further investment opportunities Current field production of circa 20,000 bopd1 Target…
Alignment with corporate strategy The acquisition delivers on Karoons 3 pillar corporate strategy 1 Acquire a high quality cash generating production asset 2 Realise value by developing existing discoveries 3 Exploration…
Bana complements the existing portfolio Bana cash flows underpin Karoons regional exploration and development opportunities in both the southern Santos Basin and offshore Peru Bana includes a large proven and probable reserves base…
Section 2 Santos Bain, Brazil Bana transaction overview 8
Transaction Details Expected financial close of the Bana transaction is during Q1 CY 2020, with an effective transaction date from 1 January 2019 Transaction Karoon to acquire 100% operated interest in the Bana oil fields in the…
Transaction and Funding Update Transaction Update Funding Update Karoon is on track to assume full operations of the Bana project by Post payment of the deposit during July 2019, the outstanding financial close purchase price payable…
Section 3 Santos Basin, Brazil Bana asset overview 11
Bana asset overview Bana has favourable reservoir characteristics and identified production growth opportunities Asset summary BM-S-40 Concession Concession BM-S-40 is in the southern Santos Basin, 50-60km from Karoons Neon and Goi…
Bana Geological Summary Excellent subsurface characteristics Bana Well Log Schematic Cross Section* Piracaba Well Log Depth Structure Vcl Poro Vcl Reservoir Depth Mapping Poro High 10m Low Piracaba Bana Patola *not to…
Bana Production and Reserves Established, reliable oil production and identified potential growth through ongoing investment in the southern Santos Basin Production growth target (Mbopd) Bana Reserves and Contingent Resources (MMbbls)3…
Transition to Operatorship Karoon to retain the existing FPSO operators to ensure operational continuity for the asset whilst leveraging its Basin knowledge from +10 years operating experience in the region Karoons operatorship…
Approvals and Completion Timing Final ANP approvals and transaction completion expected during Q1 2020 no delays or court injunction with Petrobras 11 divestments currently being progressed Under the Brazilian Governments revised asset…
Section 4 Santos Basin, Brazil Neon and Goi discoveries overview 17
Santos Basin Neon and Goi developments The Neon and Goi oil discoveries represent further opportunity for expansion in the southern Santos Basin Neon and Goi developments (100% Karoon) Karoon is progressing appraisal and development…
Santos Basin, Neon1 discovery Progressing field development planning and nearfield exploration target evaluations Seismic fluid response & DHI Water depth: 300 m. Reservoir depth: 1700 m. Paleocene: 70 m net pay with 39 API light…
Southern Santos Basin growth projects Identified production and development opportunities to establish an oil production hub Opportunity summary 160 Patola tie-in Patola oil discovery well (SPS-91) drilled during 2011 Similar fluid…
Section 5 Exploration portfolio overview 21
Peru: Tumbes Basin exploration overview Drilling of the Marina-1 well in Tumbes Basin, offshore Peru, intended during first half CY 2020 this frontier well has the potential to be a play opener for the Peruvian E&P industry Karoon 40%1…
Peru: Tumbes Basin, Block Z-38 Marina Prospect Advanced geophysical studies have identified new targets Marina-1 Prospect drilling early 2020 with a gross prospective best estimate resource of 256mmbbls (net 102 mmbbls to…
Australia: Carnarvon Basin, WA-482-P The right address: Australias newest oil province Permit extended with G&G work program only. Karoon 50%, Quadrant/Santos 50% (Operator). Large permit in an emerging oil prone area. Farmed…
Transformational Acquisition Karoons Managing Director, Mr. Robert Hosking said: The company has been working very hard over the past three years to acquire a high quality production asset with robust economic returns. Through the…
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