Western Australia: Drilling in the Browse basin, approximately 480km north of Broome, the ConocoPhillips 'Poseidon-1' wildcat well has discovered natural gas.
The Oil & Gas Journal reported that mud logs and logging-while-drilling indicated the presence of hydrocarbons, but that the shows had yet to be fully evaluated. It is believed to be gas and condensate.
The find comes in permit WA-315-P, in which ConocoPhillips has a 51 percent working interest after farming into Karoon Gas to fund exploration and drilling.
ConocoPhillips has the option to increase its working interest to 60 percent in the wake of this discovery, by carrying some of Karoon's development costs.