"
Bauna is light oil but has produced 119,721,000 barrels of the original 196,000,000 so at 30,000 BOPD
is not a long enough life asset to meet Karoon's acquisition parameters. Peregrino is the go. "
I get what you are saying but it also comes down to price. If they can get Bauna (with 75m barrels recoverable left - note that is bigger than Echidnas 2C), the facilities at Bauna allow for upto 80,000 bopd. With Echidna and Kangaroo close by they could significantly reduce operating costs so there is the acquisition costs but also the reduced cost that benefits Karoon in the big picture.
Potentially bolting on an asset like Piracuca that is currently uncontracted that can impact the overall economics of the project for all 4 fields. They could actually make it into a true strong of pearls situation.
I have concerns with Perregrino that its too big for Karoon and I have concerns about heavy oil in the long term.
Ann: Withdrawal of AGM Resolutions 5 and 6, page-30
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