fresh gas hit adds to kitty in poseidon area, page-96

Council,
If I may, I feel the need to be a little contrarian to your post.

Firstly, I do not know how any one can say hand on heart that they are happy to ride between $2 and $12 over several years and be happy to end at $5. And that's ok because your portfolio is diversified.?? Personally I would be extremely disappointed and angry that I allowed myself to be in that position.

You think Bob is a great, humble man who is simply trying to maximise our wealth. Well I would say that the easiest way for him to maximise his own, his sons and the board's wealth is to see Kar do well. Whilst I am sure Bob is a good bloke, I am willing to bet he isn't a philanthropist for a living. Whatever he does, he does for the good of the company, which indirectly is usually good for the shareholder. Except the sp is Shite right now - YET AGAIN.

Talking of ripped tailpieces, Bob may have done what he could to beat the big guys, but that doesn't mean he has beaten them or is even going to. Another six months before we get some idea on that one. Although James did indicate one should be thru earlier than that.

Pulling out of an IPO when the market was well down and unfavourable and the dosh that was going to come in wasn,t enough to carry their drilling schedule as planned, hardly makes him "a true working mans hero". He simply made the right decision, which is what he was supposed to do.!! That's his job for which he is well remunerated in case you haven't noticed.

There's no doubt that whole management team at Kar has done a fabulous job at everything except creating shareholder wealth. Can anyone really argue against that.!!

That's funny - Isn't that our part of the equation.??

So good luck holding long term. As Cato says anyone who is in these speccies expects to make pretty good dough to cover the risk. Taking ten years to go from $2 to $5 is hardly a great risk/reward investment. Especially, when the sp has seen $12.

From Karoons website:

"Strategy:

Karoon’s core strategy has been to identify and gain early entry into highly prospective hydrocarbon basins, with high equity, large potential targets and a proven petroleum system. Then explore and appraise that acreage with the aim of delivering organic value creation for shareholders though the commercialisation of its assets."

So based on current time frame estimates, it is going to take about 14 years if all goes well( and it never does) to see one project( Kangaroo) reach commercialisation.



And while your waiting: http://www.youtube.com/watch?v=UaTkIXIRHrw (TIP: might have to replay a couple of times to get you thru the next four years.)

Cheers,

Stevo