Karoon Energy Ltd (AU:KAR) has released an update.
Karoon Energy Ltd has announced the commencement of drilling at the Who Dat South well in the Gulf of Mexico, with a projected timeline of 50-60 days to drill and evaluate two Miocene age turbidite reservoir targets. The well has the potential to tap into 31 million barrels of oil equivalent, although these resources are currently categorized as Prospective 2U Resources, which require further exploration to confirm their viability. Karoon holds a 30% interest in the joint venture, with LLOG operating and holding a 45% stake and Westlawn Americas Offshore having 25%.
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