KAR 0.28% $1.80 karoon energy ltd

poseidon-1, page-9

  1. 956 Posts.
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    "The gas water contact has not been penetrated, indicating the potential for additional gas below the total depth of Poseidon-1."
    "...interpreted gross gas column for the structure of over 430m."
    Sounds like good chance of over 7 TCF. Possibly much greater than 7.
    If Kontiki-1 comes in as gas discovery, watch out for share price. It will rocket. I remember reading in a broker report that Kontiki-1 is a low-risk well. Also, broker report by Merrill Lynch recently stated that success at Poseidon-1 derisks the rest of the Browse drilling.
    What a great stock. First well has come in big time. This, plus the chance of it being taken over, should put a floor under the share price.
 
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$1.80
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