1. "understood to be among a number of parties engaged in tentative discussions about a deal." 2. "A buyer will be confirmed within weeks with cash-strapped Karoon selling either a majority of its holding, close to 30 per cent, or exiting entirely." 3. "Poseidon has drawn the interest of a handful of major energy players, including Perth-based Woodside" 4. "Royal Dutch Shell has also cast an eye over the field" 5. "Another contender for Poseidon is the Thai oil and gas giant PTT"
Bottom line, it looks like capital raising is off. Multiple bidders are in the frame....which should ensure that pricing is similar to what petro paid in 2013.
= we can expect $600m-$800m for the browse asset = shorts are in trouble = stock price should open near $6.
Goodluck All.
KAR Price at posting:
$2.46 Sentiment: Hold Disclosure: Held
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