Karoon Gas Australia Limited was incorporated as a public company in November 2003 and was listed on the ASX on 8 June 2004. Karoon Gas's core focus and strategy is to identify, explore and develop acreage that is highly prospective for oil and gas . Karoon currently has five focus areas, the Browse Basin (Western Australia), Bonaparte Basin (Northern Territory), Tumbes Basin (Peru), Marañón Basin (Peru) and the Santos Basin (Brazil).