This was from the last QR.
Corporate Activity Summary
Farm-out Status Update
Farmout discussions across the Browse, Santos, Tumbes and
Carnarvon Basin assets are progressing with negotiations underway on three of the assets.
Specifically relating to exploration permits WA-315-P and WA-398-P farm-out processes, current
negotiations are progressing with global energy players
focused on their ability to secure a higher equity interest, up to 30%. This differs from Karoon’s previously indicated target range of 5-10%.
Karoon has engaged a global investment bank to formally manage the farm-out process over Block Z-
38 in the Tumbes Basin, Peru.
Karoon will also commence a farmout process during the next quarter over Block 144, Marañón Basin, Peru. A physical dataroom has been established and Karoon is in the process of
scheduling visits for interested parties.
Karoon remains focused on achieving the best possible outcome for shareholders from these
negotiations.
Now, I would have thought from reading that, that there is considerable interest in KAR's assets, so, I would be most surprised if KAR does not have a position of strength in whatever "negotiations' are taking place.
They are far and away from being in a fire sale situation and also be surprised if they would even consider a full T/O, but, cash AND or high percentage j/vs, need to be found.
This is certainly a watershed moment for the company and its shareholders.
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$1.49 |
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Mkt cap ! $1.176B |
Open | High | Low | Value | Volume |
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Buyers (Bids)
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---|---|---|
7 | 60557 | $1.49 |
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Price($) | Vol. | No. |
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$1.50 | 98706 | 21 |
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40 | 274825 | 1.480 |
11 | 218764 | 1.475 |
20 | 413254 | 1.470 |
4 | 26415 | 1.465 |
Price($) | Vol. | No. |
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1.490 | 61091 | 22 |
1.495 | 137715 | 17 |
1.500 | 136010 | 13 |
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1.510 | 46571 | 11 |
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