As oil heads lower, it actually is a positive for Karoon for a few reasons.
a) we have no oil producing assets, so it has no impact to revenue
b) we are in acquisition mode - therefore oil assets become cheaper.
c) OIL is now back to where it was when we were finalising our bid for Bauna/Tartaruga = valuation shouldnt have changed much.
Not saying we can beat the tape - -- everything is RED, so would be surprising if we are green, but we should outperform.
Goodluck,
PB
OIL down = +ve for karoon
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