UBS rates KAR as a Strong Buy *effective 13/05/13 @9am
Karoon Gas has increased the size of the gross oil column intersected at the Bilby-1 exploration well, Santos Basin, Brazil. The column is now confirmed at 320 metres, against 200m previously.
UBS notes the well does have a relatively low net to gross ratio and appraisal drilling is still required to delineate size and commercial potential. The well is yet to reach the primary Santonian target.
A Buy rating is maintained and the price target is raised to $8.00 from $6.45.
As a high risk/reward play UBS warns investors to expect significant volatility in the share price, particularly while drilling continues.
Target price is $8.00 Current Price is $6.69 Difference: $1.31
If KAR meets the UBS target it will return approximately 20%
ubs 'buy' rating.. $8+ price target
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Last
$1.83 |
Change
0.015(0.83%) |
Mkt cap ! $1.466B | |||
| Open | High | Low | Value | Volume |
| $1.86 | $1.86 | $1.82 | $9.850M | 5.367M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 38837 | $1.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.84 | 22163 | 2 |
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| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |