Bob and Mark gave informative and detailed presentations at the AGM in what I thought was a confident manner that suggested that KAR will have an excellent few years ahead of it. No discussion of the legal challenge, just a comment that the last one was resolved after a month or so - hopefully a precedent was set.
The world demand and supply situation discussed by Bob indicated to me that the market will be tight in one to three years because of a sharp decline in output from lack of E&D expenditure, plus the natural decline of up to 5% pa from existing fields. With low costs, it's a good time to look for oil and gas.
Mark implied there was good upside in each of the portfolio's prospects and that even the 'Cinderalla' - the Tumbes Basin - looks like getting some attention after a farm-out. Ceduna Sub-Basin looks promising as does the Carnarvon, especially if BHP are successful in the next-door lease later next year.
Looking forward to KAR getting some cash from the South American farm-out to WPL so they can move on these prospects. Bob said they are still looking at many other possibilities as well. Promising....
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$1.44 |
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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6 | 12497 | 1.430 |
3 | 36502 | 1.425 |
12 | 115071 | 1.420 |
7 | 17273 | 1.415 |
Price($) | Vol. | No. |
---|---|---|
1.450 | 3448 | 1 |
1.455 | 25002 | 2 |
1.460 | 7171 | 2 |
1.465 | 5002 | 1 |
1.470 | 5002 | 1 |
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