investsmart says sell, page-8

It seems more like a quick patchup job by ECB, who've been banding KAR since inception, they still can't get their numbers to match up their text!! Cant b that hard now, if one was so close to the company.

ECB's latest valuation for a 7tcf resource for KAR's 40% stake puts a value of $2.4b for Browse prospects.
With 250m shares on issue, this is worth $9.60/sh not $9.30/sh, as the tusker mentions in his latest valuation.

Fortunately, he got the overall prospects valued right, 2905m/250m = $11.62/sh, but then Browse is in the spotlite for now, then Sth America. Hence $9.60/sh seems a fair price.

And then the typical cover y'r backside pearler....
"Due to the imminent announcement of the outcome of the Poseidon-2 well – which will affect our valuation by up to $5 per share – we maintain a HOLD recommendation. Karoon shares are High Risk and suited only to professional investors or investors with a high risk tolerance."

Thats confusing, $5 up or down, perhaps the latter. Yep, we all know by now the impact of losing an MDT tool & a liner tool, one month after reaching TD, did to the SP at P#1. Hence the advice, 'suited to professional insto's' or those with deeper pockets.

Anyways look fwd to an update on the logging/testing results, as that will b the necessary trigger for the SP, instead of a brokers recco.