Australia Karoon Gas requests trading halt

PERTH | Mon Feb 1, 2010 6:03pm EST

PERTH Feb 2 (Reuters) - Australian oil and gas explorer Karoon Gas Ltd (KAR.AX) requested a trading halt of its shares on Tuesday pending an announcement on drilling results on its Browse acreage of west Australia, the company said.

Shares in Karoon, a partner with U.S. major ConocoPhillips (COP.N) in a drilling programme, have dropped in recent weeks amid worries that the size of its Poseidon gas field would be smaller than expected and foil its hopes of building a gas export project. (Reporting by Fayen Wong; Editing by Balazs Koranyi)

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