Well partner Karoon Gas Australia requested a trading halt on Monday ahead of “a pending update on the drilling operations in Australia”.
Quadrant spudded the Levitt-1 last month on WA-482-P in the Carnarvon basin targeting an estimated unrisked prospective resource of 220 million barrels.
The aim of the well is to test the presence of a working petroleum system generating from the Wigmore sub-basin, with the joint venture expecting the North Rankin and shallower Legendre formations to contain hydrocarbons migrating from the oil mature source kitchen.
Quadrant
