0950 [Dow Jones] STOCK CALL: Karoon Gas (KAR.AU) price target lifted to A$9.16 from A$5.08 by Merrill Lynch, keeps Buy. Says recent progress reports on Poseidon-1 exploration well "highly encouraging". Notes confirmed presence of gas column and combined sand interval depth now at 216 meters. Final results of detailed logging test should be available later this week, Merrill says, with full production test to follow. Also sees potential in Karoon's offshore Brazil interests in Santos Basin and Peru assets. Corporate activity also possible, Merrill says. "In a resource-constrained industry, we believe Karoon would screen up as a possible M&A candidate giving the shares some downside support in our view." Last at A$7.25. (RRK)
merrill lynch
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Last
$1.81 |
Change
-0.065(3.48%) |
Mkt cap ! $1.446B | |||
| Open | High | Low | Value | Volume |
| $1.86 | $1.86 | $1.80 | $6.799M | 3.741M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 128816 | $1.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.81 | 48402 | 4 |
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| Last trade - 16.10pm 08/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |