OK key points.. nice pressie - should help price:
1. Ongoing Echidna development target breakeven oil price ~ $40/bbl, down from ~US$60/bbl
2. On the brazil bid success ... no capital raise noted. Cash, Staged payments, Production cashflows, debt & partners.
3. Implications. Large post-sale reserves @ Tartaruga.
4. Baunasynergies with KAR’ Santos basin assets 40 kilometres away
5. Profitable production with a low breakeven price
6. Turns KAR into well placed long term financially sound company with pipeline of E&P projects
7. Farmed‐out 35% of Brazil Santos Basin acreage to PRE in 2013, for US$250m in cash and carry. Opportunistic re‐purchase of PRE’s interest in Sept 2016 for US$20.5m, approximating US 50c/bblof 2C resource.
8.US$200 million of contingentmilestone cash receivables remain outstanding
LOVE IT.
PB
Ann: Karoon Corporate and Operations Review October 2016-KAR.AX, page-3
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$1.83 |
Change
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Mkt cap ! $1.466B | |||
| Open | High | Low | Value | Volume |
| $1.85 | $1.86 | $1.83 | $6.002M | 3.265M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 42256 | $1.83 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.84 | 13340 | 3 |
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