Karoon Gas Australia has confirmed and recovered oil from five zones in the Kangaroo-2 appraisal well in the Santos basin, offshore Brazil.

The company recovered 17 samples of oil within the Palaeocene and Maastrichtian formations, with an estimated gas oil ratio (GOR) of 400 standard cubic feet per barrel (scf/bbl) to 700ft³ scf/bbl.

"Located in block S-M-1165, Kangaroo-2 is the initial well in the existing Santos Basin exploration and appraisal drilling campaign."

The Palaeocene section features a 90m gross oil bearing reservoir with a net to gross of more than 70% and porosities in the range of 26% to 34%.

Three separate oil columns have been identified with a GOR of 500 scf/bbl.

The Maastrichtian section features two oil bearing reservoirs, with the higher one having an 85m gross oil reservoir interval, a net to gross of more than 60% and porosities in the range of 22% to 26%.

The lower Maastrichtian oil bearing reservoir interval has a thickness of 75m, a net to gross of 25% and porosities in the range of 21% to 25%.

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Oil recovered from the Maastrichtian reservoirs is estimated to have a GOR range of 550 scf/bbl to 700 scf/bbl.

Pacific Rubiales Energy has a 35% participating interest in the wells and five surrounding blocks, while Karoon Gas Australia operates and holds the remaining 65% stake.

Located in block S-M-1165, about 300m up-dip and 4km south of Kangaroo-1, Kangaroo-2 is the initial well in the existing Santos Basin exploration and appraisal drilling campaign.

Karoon is operating the exploration and appraisal drilling campaign, which is anticipated to continue through the first half of 2015.