Anyone get any news from AGM?, page-2

Bob and Mark gave informative and detailed presentations at the AGM in what I thought was a confident manner that suggested that KAR will have an excellent few years ahead of it. No discussion of the legal challenge, just a comment that the last one was resolved after a month or so - hopefully a precedent was set.

The world demand and supply situation discussed by Bob indicated to me that the market will be tight in one to three years because of a sharp decline in output from lack of E&D expenditure, plus the natural decline of up to 5% pa from existing fields. With low costs, it's a good time to look for oil and gas.

Mark implied there was good upside in each of the portfolio's prospects and that even the 'Cinderalla' - the Tumbes Basin - looks like getting some attention after a farm-out. Ceduna Sub-Basin looks promising as does the Carnarvon, especially if BHP are successful in the next-door lease later next year.

Looking forward to KAR getting some cash from the South American farm-out to WPL so they can move on these prospects. Bob said they are still looking at many other possibilities as well. Promising....