Karoon Energy Ltd. is an Australia-based international oil and gas exploration and production company with assets in Brazil, the United States and Australia. The Company has two key producing assets: the Bauna Project in the Santos Basin, Brazil and the Who Dat assets in the Gulf of Mexico, United States. Its 100% owned and operated Bauna Project (which comprises the Bauna, Piracaba and Patola oil fields) is located in the BM-S-40 production license in the southern Santos Basin, offshore Brazil. It also holds a 100% interest in the Neon oil field, located approximately 75 kilometers (km) northeast of Bauna. It also holds a 100% interest in the Goia field, located approximately 18 km southwest of Neon. It also has 100% interests in six blocks (S-M-974, S-M-1038, S-M-1484, S-M-1605, S-M-1358, S-M-1603) in the Santos Basin, offshore Brazil. The Who Dat producing assets comprise the Who Dat, Dome Patrol and Abilene oil and gas fields and associated infrastructure.