DJ Kangaroo Gusher Could Launch Karoon Shares -- Market Talk
2327 GMT [Dow Jones]--Karoon Gas (KAR.AU) investors are itching for the final results
of the Kangaroo West exploration well offshore Brazil, which has a 35% chance of success
and could have a profound impact on its share price. UBS values the prospect at
A$1.68/share but adds that if it contains Karoon's so-called 2C contingent resource
estimate of 508 million barrels of oil it could be worth A$4.87/share. "If we dare
look at the upside, Karoon's 3C resource estimate at Kangaroo West is 1.84 billion
barrels, so success at the 3C level could be worth more than A$10/share." The well,
drilled in a partnership with Pacific Rubiales, is expected to reach its total depth
during April. UBS has a buy call and A$4.25/share target on Karoon, noting its risky
drilling program is backed by an enviable A$680 million cash position.
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Last
$1.44 |
Change
-0.045(3.03%) |
Mkt cap ! $1.122B |
Open | High | Low | Value | Volume |
$1.48 | $1.48 | $1.44 | $7.950M | 5.468M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 16364 | $1.44 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.45 | 6448 | 2 |
View Market Depth
No. | Vol. | Price($) |
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3 | 16364 | 1.440 |
7 | 52644 | 1.435 |
10 | 220475 | 1.430 |
5 | 88358 | 1.425 |
19 | 231761 | 1.420 |
Price($) | Vol. | No. |
---|---|---|
1.450 | 3448 | 1 |
1.455 | 75108 | 3 |
1.460 | 58212 | 4 |
1.465 | 5002 | 1 |
1.470 | 7004 | 2 |
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