Karoon Energy Ltd. has undertaken a review of its corporate operating structure including an assessment of its administrative footprint in Australia, Peru and Brazil. Key changes following this review include: Karoon has consolidated its registered office and principal place of business to a smaller location in Melbourne and will shortly be closing its involvement in its Mt Martha office. Karoon has expanded its operating presence in Brazil and will now run its business from its Rio De Janeiro office and its proposed new Bauna shorebase in Itajai. The Florianopolis office will close after the completion of the Bauna transaction. Karoon Energy Ltd. announced that the address of its registered office and principal of place of business is now: Suite 3.02, Level 3, 6 Riverside Quay, Southbank, Victoria, Australia 3006.