Karoon Energy increases reserves at its Santos Basin concession, BM-S-40

Karoon Energy Limited (ASX: KAR) announced an updated assessment of reserves and resources as of 31 December 2022 for its wholly owned Santos Basin concession, BM-S-40, in Brazil after an evaluation of all available subsurface and production data, comprising a reprocessed seismic dataset, newly acquired data from the recently completed Baúna well interventions and Patola drilling, and updated reservoir modeling.

BM-S-40 covers the Baúna and Piracaba producing fields and the Patola field, which is presently under development. Proved (1P), Proved and Probable (2P), and Proved, Probable, and Possible (3P) reserves on 31 December 2022 have improved by 17%, 23%, and 7%, to 42.8 MMbbl, 55.0 MMbbl, and 65.5 MMbbl, respectively, compared to 30 June 2022.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com