Small listed oil and gas companies look to be increasingly on the auction block as bigger predators eye takeover opportunities to boost production growth given higher operating costs, a reltivley high oil price and increasing domestic gas prices. So says Richard Hemming "Under the radar" in the Australian Business section.
Canaccord Genuity's oil and gas analyst John Hedstrom explains why there is more M&A activity in the sector in comparision to others. He predicts that there will be more activity in the sector as big companies go looking for cheap assets, and small companies look for scale.
He singles out Karoon. www.the australian.com.au/business " this is a hige deal for the company and it means that it can develop its assets in Peru and Brazil". These comments are in step with my previous comments about KAR as a takeover target for larger companies. With scale as well, investors will be attracted to KAR as a larger explorer with a big brother assisting them towards becoming a producer. Watch this space.
Alhambra.
bloomberg part 2, page-201
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Last
$1.37 |
Change
-0.008(0.55%) |
Mkt cap ! $1.057B | |||
| Open | High | Low | Value | Volume |
| $1.38 | $1.38 | $1.35 | $1.687M | 1.236M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 140349 | $1.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.37 | 50069 | 30 |
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| KAR (ASX) Chart |