Karoon looks for high equity interest exploration opportunities with large potential targets in proven petroleum systems. n Review November Review 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 work-up of the acreage looking…
Company Snapshot (continued) Corporate Overview: Highlights: Market Capitalisation A1.1 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 Review November 2013 3
Brazil Assets Activity Summary Background Santos Basin, Brazil. 300-450 metre water depth. Karoons equity interests: 65% interest in Blocks S-M-1101, S-M-1102, S-M-1037 , S-M-1165. Farm-out of S-M-1166 subject to final regulatory…
Santos Basin Kangaroo-1 Oil Discovery Seismic section A Kangaroo-1 Oil Discovery This is a priority asset due to size, quality and production potential. Kangaroo-1 Discovered 76 metre oil column in Eocene and Maastrichtian interbedded…
Santos Basin Bilby-1 Oil Discovery Bilby-1 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.…
Santos Basin Resource Potential Additional Prospective Resource Potential As a result of the Phase 1 exploration success, additional exploration prospects have been de-risked. 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 Review November 2013 9
Browse Basin Background The Browse Basin permits are located 350km off-shore north western Australia, in 450-600m water depth. Karoons equity interests: 40% in WA-315-P and WA-398-P (ConocoPhillips 40%, Operator; PetroChina 20%), 90%…
Browse Basin Proteus-1 Proteus-1 penetrated an 87m gross, good quality gas condensate bearing reservoir in the Jurassic aged interval. The well was successfully flow tested over the open hole section covering the Plover and Montara…
Browse Basin - Grace Prospect Top Lower Plover Mapping 58sqkm, vertical relief 350m CI=100m, LCC=4820mSS Grace-1 Located in permit WA-314-P (Karoon 90% equity interest), the Grace-1 well spudded early October 2013. Grace-1 Plover…
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 6-7 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: Farm-in agreement entered September 2012 to earn 100% of Permit WA-482-P by completing a 2…
Peruvian Assets Karoon Review November 2013 15
Tumbes Basin Background Tumbes Basin, 10 km offshore NW coast of Peru in water depths 300-1000m. Karoons equity interest: 75% interest in Block Z-38, subject to completion of farm-in terms with Pitkin Petroleum Plc. Block Z-38 is a…
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 activity1 Drill Grace-1 Grace-1 well result Kangaroo-2 well result Commence onshore Enter new rig contract drilling at Maranon Drill Poseidon North-1 for Phase 2…
What We Have Done Australia Brazil Browse Basin WA-314-P, WA-315-P, WA398-P Santos Basin - S-M-1037, S-M-1101, S-M-1102, S-M-1165, S-M-1166 2005 - Acquired WA-314-P and WA-315-P (100%) 2007 - Awarded 5 Blocks in the Santos Basin Brazil…
Social and Environmental Programs Karoon is committed to the equitable and sustainable development of the communities in the regions in which we operate. Peru was identified as the cornerstone for Karoons social and environmental program…
Well Results to Date Browse Basin Phase 1 Poseidon was a near crestal test of a large fault block. A full suite of wireline data including MDT pressures was acquired through the gas zone, Poseidon-1 proving the presence of a gas…
Well Results to Date (continued) Browse Basin Phase 2 (continued) Full suite of wireline data including pressure and gas samples confirming a gas column. Penetrated good quality gas bearing Montara and Plover Proteus-1 Fm sands. Open…
Activity Summary KAROON ACTIVITY 2013 2014 Indicative time line ( July 2013) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 BROWSE BASIN (Aust) Drilling (firm) Zephyros-1 Proteus-1 Grace-1 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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