Everybody,
Just spoke to tech dept at Karoon. The Transocean Report talked about earlier under "Delayed Drilling" is the worst case sceanrio.
The likely (or likelier) date for drilling could be around Dec 2008. They take a few days to de-commisssion and re-commission and we could see a date by mid-Dec 2008.
They do not stop for Christmas.
Reading between the lines, they seem confident it will be this year.
He also agreed that Karoon is a medium-risk share at worst, not high-risk as its permits are adjacent or in proven areas, but with particular comment to Brazil and their 5 blocks he mentioned they could be worth $1 Billion each against the recent Santos floats if things go well.
Against the recent half-billion market cap for Karoon he said this area is as exciting as Browse!
Others that sell are creating cheap buys for the patient holders like us Karooners!
Wait a few months everybody for the good news!!!!
He also mentioned that the definition of a sophisticated investor (to get a share placement)is defined as holding more than a million shares - damn!
Need to buy more.
good news on drilling and brazil
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