Karoon Energy Ltd. announced that it has received notice from the Agência Nacional do Petróleo, Gás Natural e Biocombustíveis ("ANP") of the approval of the integrated Development Plan for the Neon and Goiá fields that was submitted by Karoon to the ANP in December 2019. As previously announced, Karoon is currently undertaking further engineering studies on the Neon field, with the aim of optimising the development plan. This includes studying the potential to drill a control well using the Maersk Developer rig that has been contracted for the Baúna intervention campaign and Patola development. Following the completion of further evaluation work, including the potential control well, Karoon will assess whether to proceed to a final investment decision in respect of the Neon field.