No it is one of their best asset. However it is small and it is towards the end of the life (6-7 years left). They wanted to concentrate on larger project. Plus they also had a lot of debt they needed to reduce quickly. I suspect in this environment, you would want to be a bit more conservative in gearing going forward.
However, it is a perfect project for Karoon's size. They could start generating income and use the expertise in Bauna to develop their other projects. So I suspect it is a win-win for both. But I think there is more urgency for Petrobras.
Big news overnight, Bauna deal terms very likely to be revised, page-25
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Last
$1.81 |
Change
0.005(0.28%) |
Mkt cap ! $1.450B | |||
| Open | High | Low | Value | Volume |
| $1.82 | $1.84 | $1.78 | $8.370M | 4.605M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 32319 | $1.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.82 | 28653 | 3 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |