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Brazil: Karoon Energy announces update on Bauna oil reserves and contingent resource
28 Jan 2021
Santos Basin concession BM-S-40 containing the
Baúna oilfield and Patola oil discovery. This announcement represents an update to the summary of the Competent Persons Report (‘CPR’) prepared by AGR Petroleum Services Reservoir Management Division (‘AGR’) announced to the ASX on 9 November 2020. Following completion of the Baúna acquisition, also announced on 9 November 2020, Karoon is 100% owner and Operator of the BM-S-40 concession.
The updated assessment, which is effective as of 1 January 2021, reflects that there has been no reduction in reserves (when compared to those announced to ASX on 9 November 2020), other than commensurate with oil production volumes during the period 1 July 2020 to 31 December 2020 reflecting asset performance that is in line with expectations. Production for the period 1 July 2020 to 31 December 2020 was 2.8MMbbl or 15.2kbpd. T ....

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