n Review KAROON GAS AUSTRALIA LTD 2013 ANNUAL GENERAL MEETING OPERATIONS REVIEW 31st October 2013
Company Snapshot Karoon seeks to apply its commercial and geotechnical skills to identify and secure entry into early stage, highly prospective exploration acreage. Karoon then creates value through the workup of the acreage looking to…
Company Snapshot Corporate Overview: Year's Highlights: Market Capitalisation A1.2 billion. 2 oil discoveries in the Santos Basin Phase 1 exploration campaign. 256 million shares on issue & 13 million unlisted options. Kangaroo…
Brazilian Assets Karoon AGM Review October 2013 3
Activity Summary Background Santos Basin, Brazil. 300450 metre water depth. Karoons equity interests: 65% interest in Blocks SM1101, SM1102, SM1037 , SM1165 20% interest in Maruja Block SM1352 Santos Basin Farmout Pacific…
Kangaroo1 Oil Discovery Seismic section A Kangaroo1 Oil Discovery This is a priority asset due to size, quality and production potential. Kangaroo1 Discovered 76 metre oil column in Eocene to Maastrichtian interbedded sands. Oil…
Santos Basin Bilby1 Oil Discovery Bilby1 Oil Discovery Discovered a proven 320 metre oil column with a probable gross oil column of 560 metres in the Eocene and Maastrichtian aged sandstones. Oil measured at 28 degrees API. Predrill…
Santos Basin Resource Potential Additional Prospective Resource Potential As a result of the Phase 1 exploration success, additional exploration prospects have been derisked. The Kangaroo West, Bilby South, Platypus, Echidna and updip…
Santos Basin Operational Summary Acreage and Permitting Discovery Appraisal Plan (Plano de Availiaco de Descobertas, or PAD) application submitted to ANP. Approvals pending. Operational Highlights Kangaroo Carrying out Seismic…
Australian Assets Karoon AGM Review October 2013 9
Browse Basin Background The Browse Basin permits are located 350km offshore north western Australia, in 450600m water depth. Karoons equity interests: 40% in WA315P and WA398P (ConocoPhillips 40%, Operator; PetroChina 20%), 90% in…
Resource Potential Proteus1 Proteus1 penetrated an 87m gross, good quality gas condensate bearing reservoir in the Jurassic aged interval opening up the Montara play over the greater Poseidon structure. The well was successfully flow…
Grace Prospect Top Lower Plover Mapping 58sqkm, vertical relief 350m Grace1 CI=100m, LCC=4820mSS Located in permit WA314P (Karoon 90% equity interest). Plover Formation and Montara Formation targets. Grace1 Gross unrisked mean…
Browse Basin Operational Summary Acreage and Permitting All permits in good standing. Planned wells fulfilling Work Program requirements. Operational Highlights 3 wells drilled of the 67 well Phase 2 exploration drilling campaign.…
North Carnarvon Basin Background North Carnarvon Basin, 300km from NW Australia in 400 to 2,000m metres water depth. Karoons equity interest: Farmin agreement entered September 2012 to earn 100% of Permit WA482P by completing a 2 year…
North Carnarvon Basin WA482P Prospect example Prospective at a number of levels from Lower Jurassic Nth Rankin beds to Triassic, Top and IntraMungaroo Formation levels. 10 kms DELAMBRE 1 RMS AMPLITUDE MAP NORTH…
Peru Tumbes Basin Background Tumbes Basin, 10 km offshore NW coast of Peru in water depths 3001000m. Karoons equity interest: 75% interest in Block Z38, subject to completion of farmin terms with Pitkin Petroleum Plc. Block Z38 is a…
Peru Assets Tumbes Basin Marina Marina and Marlin Prospects H40 Target Target sand intervals indicated in yellow H50 Target MARINA H55 Targets H70 Targets Marlin Target Marina1 will test five overlying prospect…
Tumbes Basin Operational Summary Acreage and Permitting Block Z 38 is in good standing. 2 wells to be drilled within 18 months to meet permit requirements. Environmental Plan (EIA) for drilling operations of up to 10 exploration wells…
Maranon Basin Background Maranon Basin, Peru. On trend with Situche Central oil field. Karoons equity interest: 100% interest in Block 144. Currently in Permit Term 2 and in force majeure from June 2012 pending environmental…
Forward Program 2H 2013 1H 2014 2H 2014 2015 Planned drilling activity Drill Grace1 Grace1 well result Kangaroo2 well result Commence onshore drilling at Maranon Basin Enter new rig contract for Drill Poseidon North1 Commence…
What We Have Done Australia Brazil Browse Basin WA314P, WA315P, WA398P Santos Basin SM1037, SM1101, SM1102, SM1165, SM1166 2005 Acquired WA314P and WA315P (100%) 2007 Awarded 5 Blocks in the Santos Basin Brazil 2006 Farmout to…
Activity Summary KAROON ACTIVITY 2013 2014 Indicative time line ( July 2013) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 BROWSE BASIN (Aust) Drilling (firm) Zephyros1 Proteus1 Grace1 Drilling location options to be advised 3D Seismic acquisition…
DeGolyer & MacNaughton Summary Summary of DeGolyer and MacNaughton assessments of Karoon's Risked Number of Low Best High Mean Prospective and Contingent Resource Base as of 30th September 2009 Mean Prospects Estimate Estimate…
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