This announcement has significantly de-risked the entire venture. P2 was drilled on the outer flank down dip and was never meant to flow. Kronos1 should prove to be a gusher, this we be the well where flow rates are critical.
If I were still day trading I would short this stock as market sentiment has moved quickly against KAR and for an unknown reason those uniformed believed that P2 was drilled to prove up flow rates. A pity.
As an investor, this is really fantastic news. The quality of gas was key here and has been proven along with continuity of plover sands. Does not matter one stitch what happens to the SP in the next few months. What is important is that Kronos1 will be a gusher which will revalue the entire company for ever.
Great news, cheers to all investors :)
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Last
$1.57 |
Change
0.105(7.19%) |
Mkt cap ! $1.243B | |||
| Open | High | Low | Value | Volume |
| $1.49 | $1.57 | $1.48 | $10.95M | 7.106M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 11157 | $1.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.57 | 48776 | 4 |
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| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| KAR (ASX) Chart |