I can tell you all what the problem with KAR is but i think it will fall on deaf ears.
Number 1 problem is money.
To drill holes without having to CAP raise KAR needs to farm out its holding in the permits they have.
The problem farming down in the Browse is that developement is 10 years away so prospective farmees are a little reticent in buying in.
Brasil could be different but KAR has to appraise their discoveries which in turn will cost them plenty.
Brasil i would guess will be the first farm in monies for KAR but i would suspect their prospective partners will be able to screw them big time because of the need for money.
Grace could be a hit but its too far away for any tie in to poseidon to make a difference.
So yeah a rock and a hard place is where KAR is at the moment.
If it drops to $3.20ish i will buy in again with hard stop losses.
KAR Price at posting:
$3.56 Sentiment: None Disclosure: Not Held
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