Karoon Gas Australia Ltd. (KAR.AU) said Wednesday it will drill another two wells in its Browse Basin joint venture with ConocoPhillips (COP) and has an option to drill four more.

A 3D seismic survey of the greater Poseidon area will start in early October, it said in a statement.

The next well in the campaign is appraisal well Poseidon-2 followed by the Lion-1 exploration well then the Kronos-1 exploration well, Karoon said.

-By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957; ross.kelly@dowjones.com