The Ramform Victory, a PGS Exploration-owned vessel, was originally scheduled to start the 845-square-kilometre Browse Basin survey tomorrow, November 17, according to earlier reports.

With this survey due for completion in early January, a further 2D and 3D seismic survey to be undertaken is expected to be finished by the following month.

Karoon says it has received expressions from various international oil and gas companies about farming into the permits.

“The company is encouraged by the interest shown and expects to have further news in the coming month,” executive director Robert Hosking said.

Last month, UK-based BG International withdrew as operator of the leases, after it failed to meet a deadline to sign an agreement to start the 3D seismic program.

Karoon then resumed a 100% working interest in the leases.

Last month, Hosking said: “Results of the most recent geological, 2D seismic and aeromagnetic data interpretation continue to confirm the presence of large structures with the potential to contain large reserves of gas and condensate.”

"The interpretation confirms the geologic similarity to the Scott Reef and Brecknock gas and condensate fields immediately to the south."

Meanwhile, the company has also reported that the 250km 2D seismic survey in onshore Gippsland permits PEP 131 and EL 4537 was completed on November 10, on time and in budget.

The survey was now being processed for mapping, analysis and prospect generation.

This seismic program was designed to map the extent of the updip Megascolides structure and define new structures at the oil bearing Top Crayfish Group equivalent level, Karoon said.

It will also map the extent and quality of black coals across the EL4537 licence to locate optimal drilling targets for coalbed methane.

Depending on the results, a drilling program is being planned for the second quarter of next year.