Karoon Energy (ASX:KAR) has received regulatory approvals for its Neon drilling in Brazil on 18 January 2023.
This will allow them to drill the two control wells during the first quarter of CY2023.
The BAN-1 well intervention has been deferred to a later date.
Karoon Energy is an oil and gas exploration and production company with assets in Brazil and Australia.
They have issued a caution that petroleum exploration and production operations rely on the interpretation of complex and uncertain data and involve significant risk of failure.