Karoon Gas Australia Ltd says that a 213 metre gross oil column has been confirmed in the Echidna-1 exploration well from wireline pressure data across the Paleocene and Maastrichtian aged reservoir intervals. Physical oil samples recovered measure a 39.5 degree API oil gravity.

As at 0800 hrs AEST on 20 April 2015, the Echidna-1 exploration well had completed the wireline program and was preparing for the commencement of a production testing program within the Paleocene reservoir section.

Karoon Managing Director Mr. Robert Hosking said, 'The Echidna discovery represents another significant achievement for Karoon. Echidna adds incremental resource to Karoon's discovered Kangaroo oil field which further supports Karoon's ambitions to develop an integrated production hub in the Santos Basin'.

Tags: Karoon Gas Australia Ltd