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.
DJ Kangaroo Gusher Could Launch Karoon Shares -- Market Talk...
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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. |
|---|---|---|
| $1.45 | 6448 | 2 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| KAR (ASX) Chart |