Operational History

Australia

Browse Basin – Exploration Permit WA-314-P

  • 2004 – Acquired WA-314-P and WA-315-P (Karoon 100%)
  • 2006 – Acquired 1,131 km2 3D seismic survey and 845 km 2D seismic survey
  • 2006 – Farm-out WA-314-P and WA-315-P and operatorship to ConocoPhillips (Karoon 40%)
  • 2007 – Awarded exploration permit WA-398-P in the Browse Basin (Karoon 40%)
  • 2008 – Acquired 1,900 km2 3D seismic survey over WA-398-P
  • 2009 – Poseidon-1 wet gas discovery
  • 2009 – Kontiki-1 dry hole
  • 2010 – Kronos-1 wet gas discovery and production test
  • 2010 – Acquired 2,828 km2 3D seismic survey over greater Poseidon structure and surrounds
  • 2011 – Equity interest in WA-314-P increased from 40% to 90%
  • 2012 – Boreas-1 wet gas discovery and production test
  • 2013 – Zephyros-1 wet gas discovery
  • 2013 – Proteus-1 wet gas discovery
  • 2014 – Grace-1 dry hole
  • 2014 – Poseidon North-1 wet gas discovery
  • 2014 – Pharos-1 wet gas discovery
  • 2014 – Equity interest in WA-314-P increased to 100% and operatorship assumed
  • 2014 – Divested WA-315-P and WA-398-P to Origin Energy for up to US$800 million
  • 2015 – Exploration licence WA-314-P renewal

Carnarvon Basin – Exploration Permit WA-482-P

  • 2012 – Agreement to Farm-in to WA-482-P (Karoon 100%)
  • 2013 – Acquired 2,375 km2 3D seismic survey
  • 2014 – Farm-out 50% and operatorship to Quadrant (formerly Apache) (Karoon 50%)
  • 2015 – Levitt-1 dry hole

Brazil

Santos – Basin Blocks S-M-1037, S-M-1101, S-M-1102, S-M-1165, S-M-1166

  • 2007 – Awarded 5 exploration Blocks, Santos Basin in Bid Round 9 (Karoon 100%)
  • 2007 – Awarded 5 exploration Blocks, Santos Basin in Bid Round 9 (Karoon 100%)
  • 2010 – Acquired 750 km2 wide azimuth 3D seismic survey
  • 2012 – Farm-out 35% to Pacific Exploration and Production (formerly Pacific Rubiales Energy Corp) (Karoon 65%)
  • 2013 – Kangaroo-1 oil discovery
  • 2013 – Emu-1 dry hole
  • 2013 – Bilby-1 oil discovery
  • 2013 – Kangaroo initial Contingent Resource
  • 2013 – Discovery Appraisal Plan approved
  • 2014 – Kangaroo-2 appraisal well production tested
  • 2015 – Kangaroo West 1 – Dry Hole
  • 2015 – Echidna-1 oil discovery and production test
  • 2015 – Initial Echidna and updated Kangaroo Contingent Resource
  • 2016 – Acquired Pacific’s 35% interest in the Blocks (Karoon 100%)
  • 2017 – Awarded Santos Basin exploration block S-M-1537 in Bid Round 14 (Karoon 100%)
  • 2017 – Echidna and Kangaroo appraisal and development progressed to FEED

Peru

Tumbes Basin – Block Z-38*

  • 2008 – Farm-in agreement for 20% interest + an option for an additional 40% (Karoon 20% **
  • 2009 – Acquired 2,300 km 2D seismic within Block Z-38
  • 2009 – Exercised option for an additional 40% (Karoon 60%)
  • 2010 – Acquired 1,500 km2 3D seismic within Block Z-38
  • 2011 – Exercised option for an additional 15% (Karoon 75%)**
  • 2018 – Farm-out 35% interest to Tullow Oil plc

*Block Z38 is currently in force majeure

**Subject to completion of farm-in obligations

Other

  • 2007 – Gippsland Exploration permit PEP-162 lapsed
  • 2008 – Relinquished Gippsland exploration permit EL-4537
  • 2009 – Awarded on-shore exploration Block 144, Maranon Basin Peru (Karoon 100%)
  • 2010 – Farm-in to Petrobras’ exploration Block S-M-1352 (Karoon 20%)
  • 2010 – Maruja-1 oil discovery (renamed Bauna Sul), S-M-1352
  • 2011 – Relinquished AC/P8 Bonaparte Basin Australia
  • 2015 – Relinquished S-M-1352, Santos Basin Brazil
  • 2016 – Relinquished exploration block 144, Maranon Basin Peru