They did say the farmin should be concluded by end of June. Only thing I didn't like was the continually vague Q2/Q3 reference for santos drilling. They have the blackford dolphin contracted from May(?) and really need to start drilling by the start of Q3 to ensure they've got lots of time to drill the 3 wells as per their license undertakings. I did like the estimates of total expenditure split - it shows that while a farmin will obviously help (especially with the 600odd million expenditure over the next 1-5 yrs) it is not a necessity prior to drilling in Brazil. This gives KAR a much stronger hand in negotiation and, as their pulling of the IPO showed, they won't roll over to lowball offers. Their farmin partners will also be aware of this.
Anyway I've bought some more (just for a quick trade) as I can't see this not going over $6 upon/soon after spud and at $5.73 its is just too easy a 5-10%.
Ann: Half Yearly Accounts , page-5
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Last
$1.92 |
Change
0.090(4.92%) |
Mkt cap ! $1.539B | |||
| Open | High | Low | Value | Volume |
| $1.86 | $1.92 | $1.85 | $18.66M | 9.832M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 11055 | $1.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.92 | 144289 | 16 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |