fantastic article and as soon as people read this they will jump on...
It basically explains how big a find poseidon was in the context of another discovery and the potential for a huge LNG project that will come of it... They estimate that the discovery down the track, within the next 4 years, could generate $2 billion dollars a year for the group annually for the next 20-25 years... thats going on a find of 7 trillion cubic feet of gas...
They then mentioned that everybody wants a piece of the action and are waiting for karoon either to sell down some of their stake to be able to fund their share of the project down the track, there isn't a short list of buyers for the project...
however karoon won't do that, they won't sell any piece of the project because they have learnt from the past that companies (they used rio as an example with the iron ore) have sold too cheap and later on came to regret it...
Karoon are in it for the long haul
KAR Price at posting:
$7.37 Sentiment: Buy Disclosure: Held
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