Listening this morning, the vibe seemed to be that the BOD is...

Listening this morning, the vibe seemed to be that the BOD is more concerned with potential acquisitions rather than paying dividends. Especially GOM.


Its a great profit result and in line with expectations.


The Who Dat G2 and G4 wells coming on line February seemed confusing. I was expecting that to be in addition to the 4-4.5mbs forecast for FY/CY24. However Scotty mentioned its now producing at 38,500kbpd. That works out to 4.2mbpa. I thought the new wells would add to previous CY24 forecasts.

There were several questions in Q&A regarding that but the answer seemed to get confused in jargon and rambling to me. I'll have to listen to the presentation again sometime.


I noticed they again mentioned the possibility of farm in or farm out arrangement re Neon development. They appear to be in no hurry there.


The 40% owned Who Dat East gets drilled in April. This is a high risk industry. There are plenty of world resources that are too expensive to develop. Scotty seemed very encouraged with Who Dat East's potential. Although he was still encouraged with West and South despite their lower rating in the following table:





Disappointed with no dividend and have about given up hope of receiving one. Its a high growth investment and I understand the need to reinvest ... but I'd like to see it reflected in SP performance.

Who Dat has the potential to vastly increase reserves but still has to prove up.

I'm not sure what to think about Neon.


As Rustys33 said, the EBITDA to EV is off the chart. Goldman Sachs mention energy stocks and the oil price are the highest shorted sectors in markets. Is this the ulterior force that is holding back KAR SP?


The final question was if KAR would be interested in investing in Australia. Scotty gave a most emphatic NO. He said the sovereign risk was too high because of the regulatory environment in Australia, compared to Brazil. Woke Australia? Go woke, go broke.