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Santos Basin Partner Pacific Makes Overdue Payment to Karoon Gas

Source: www.gulfoilandgas.com 6/15/2016, Location: South America

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Karoon Gas Australia Ltd makes this announcement in respect of its 65% owned Santos Basin Brazil blocks S-M-1037, 1101, 1102, 1165 & 1166.

As announced on 14 June 2016, Karoon issued a default notice to joint venture partner Pacific Exploration and Production Corp. (Pacific) in respect of an overdue payment. Pacific holds a 35% interest in the Blocks.

Karoon is pleased to confirm that the overdue payment has been made and this matter is resolved.   

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