Karoon Energy Ltd. announced that financial close has been reached on the Company's $160 million reserve-based, non-recourse, syndicated debt facility. An initial draw down, in accordance with the facility agreement, of US$30 million has been made in preparation for investments in the Ba?na intervention campaign and Patola development. This marks a significant step in the evolution of Karoon's funding mix, broadening access to capital sources to include debt finance and deepening relationships with a high-quality lending group, comprising Deutsche Bank, ING, Macquarie and Shell.