daytrade diaries... december 9 part 2, page-108

nice KAR announcement out... IAP $8.11. Starts trading @ 3:55pm

reads well to me...

ConocoPhillips exercises option to acquire additional 9% interest in WA-314-P and WA-315-P Karoon is pleased to advise that its Joint Venture partner, ConocoPhillips (Browse Basin) Pty Ltd, has exercised its option
to acquire an additional 9% interest in exploration permits WA-314-P and WA-315-P.

As part of the exercise of its option ConocoPhillips will pay 80% of the next US$125 million in Joint Venture expenditure within exploration permits WA-314-P and WA-315-P.

Equity interests of the participants in WA-314-P, WA-315-P and WA-398-P following the exercise of the option are:

Karoon Gas (Browse Basin) Pty Ltd 40%
ConocoPhillips (Browse Basin) Pty Ltd 60