Lots to like in this report.
- Management are executing well.
- Maeresk Development rig arrived on time in Rio, with works to commence shortly.
- Next quarter we should see the first results of the 4-well Bauna intervention and coming into Q2 &Q3, production should be pushing 20,000 bbls/day.
- 2 well Patola drilling takes Karoon 30,000 bbls/day by end Q4.
- @$105 Brent/bbl and 30,000 bbls/day = US$280m / qtr or US$1.1billion annualised revenue.
- Guidance unchanged and all of the above looks on time and on budget, with pre royalty production costs in the low/mid $20/bbl.
- Neon control well drilling to come in 1H23, as well as potentially M&A on Enuata / Atlanta in the coming weeks.
- Karoon will be very news heavy in the coming months as the above plays out.
If management executes on all of the above its hard to see how Karoon remains a US$800m mkt cap company for much longer. Its a double or triple from here with oil over $100/bbl.
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$1.81 |
Change
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Mkt cap ! $1.453B |
Open | High | Low | Value | Volume |
$1.78 | $1.81 | $1.76 | $8.120M | 4.523M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 5782 | $1.80 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.81 | 204687 | 10 |
View Market Depth
No. | Vol. | Price($) |
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1 | 5782 | 1.795 |
2 | 8782 | 1.790 |
1 | 5782 | 1.785 |
2 | 7282 | 1.780 |
1 | 5782 | 1.775 |
Price($) | Vol. | No. |
---|---|---|
1.810 | 33591 | 3 |
1.820 | 65000 | 2 |
1.825 | 37982 | 3 |
1.830 | 10182 | 2 |
1.835 | 5782 | 1 |
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