The Australian company is currently in the midst of a six-well drilling campaign in the basin with US major ConocoPhillips.
Earlier this week Karoon revealed ConocoPhillips planned to carry out more testing on the Grace-1 well on WA-214-P after initial results from the well appeared promising.
On Friday, Karoon said it expected to be in a position to make a further announcement on the drilling campaign by Monday.
Grace-1
