Light oil discovery

B. Karoon Gas Australia encountered light oil at the Kangaroo-1 exploration well on block S-M- 1101 in the Santos Basin off Brazil. Karoon drilled the Kangaroo prospect to 3049mRT. Mudlog, wireline petrophysical and MDT pressure data confirmed the presence of a 25m oil column in the Eocene. Karoon estimates that the trap holds a potential gross hydrocarbon column of about 350m.