The Australian Financial Review --- Page: 21
Shares in small oil and gas company, Karoon Australia, have risen from $A0.16 to $A1.60 in 2005. Although this might be expected to be due to the rise in crude oil prices, this is not the case. Instead, the company's victory over its much larger rival has propelled Karoon's share price higher. Karoon gained control of two offshore gas exploration leases in the heart of Western Australia's Browse Basin, outmanoeuvring Woodside Petroleum. It has farmed out a controlling interest to global liquefied natural gas developer and shipper, BG Group.
karoon puts foot on the gas
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