Well partner Karoon Gas Australia said on Friday that the exploration well, located in permit WA-398-P in the offshore Browse basin, intersected an 87-metre gross interval with “high net pay penetrated”.

Karoon said the petrophysical log interpretation indicated the presence of movable hydrocarbons in good quality Jurassic reservoirs. This was also supported by formation pressure gradients and gas samples recovered to the surface.

Drill