Karoon Gas says that as at 0600 WST on 16th July 2014 wireline logging of the Pharos-1 borehole was ongoing. Since the last update, the 6?1/2' hole section was drilled from 4,949mRT to a total depth of 5,220mRT. Final Total Depth of 5,220mRT was reached at 1940 WST on 10th July 2014.

Wireline logging operations commenced on the 12th of July 2014 and are ongoing.

The presence of movable hydrocabons is supported by petrophysical log interpretation, formation pressure gradients and downhole gas sampling. Preparations for a production test will commence on the completion of the wireline logging program.

Tags: Karoon Gas Australia Ltd