KAR 0.53% $1.90 karoon energy ltd

if it wasn't serious - you'd laugh

  1. 6,162 Posts.
    lightbulb Created with Sketch. 52
    Yep this is the same Government that are holding up COP and Karoon from drilling in the Browse....but the Company responsible for the biggest Oil spill in AUS history has got the green light.... now i hate all Ggovernemnts left and right but as Johnny McEnroe us to say ...You cannot be serious.." alas this is JOOOOOOLlA and her crew doing their best work




    FED:Govt gives oil spill firm the go-ahead

    CANBERRA, Feb 4 AAP - A Thai government-owned company behind
    Australia's worst oil spill has been given the go-ahead to continue
    local operations.
    But PTTEP Australasia will be subject to a rigorous government
    monitoring program that could result in its production and
    exploration licences being cancelled any time in the next 18
    months.
    The decision, announced by Resources Minister Martin Ferguson in
    Canberra on Friday, follows an independent review of the company's
    action plan, which it submitted to address deficiencies identified
    by a commission of inquiry.
    PTTEP Australasia, a subsidiary of PTTEP Group, operates seven
    exploration licences, five production and seven other leases in
    Australia.
    A wellhead at its Montara oilfield leaked oil and gas condensate
    for 10 weeks in the Timor Sea, off Western Australia's northwest,
    in 2009.
    The commission of inquiry found PTTEP had not used sensible
    oilfield practices at the oilfield.
    It recommended Mr Ferguson issue a show cause notice to PTTEP as
    to why it should continue to operate the oilfield.
    But Mr Ferguson in November 2010 said the recommendation did not
    go far enough and ordered a review of PTTEP's licence to operate
    nationally.
    "The report correctly identifies that the (action) plan will
    only be effective if is properly implemented," he said.
    "That is why I have accepted the recommendation to subject the
    company to a rigorous 18-month monitoring program to ensure all
    aspects of the plan are implemented to the letter."
    Mr Ferguson said in light of the review's findings he did not
    intend issuing a show cause notice at this stage.
    "However, I retain the right to issue a show cause notice at any
    time should the monitoring program reveal that any aspect of the
    action plan is not implemented to my satisfaction," he said.
    An additional set of conditions will be imposed on the renewal
    or future granting of offshore petroleum title applications to
    PTTEP in Australia.
 
watchlist Created with Sketch. Add KAR (ASX) to my watchlist
(20min delay)
Last
$1.90
Change
0.010(0.53%)
Mkt cap ! $1.523B
Open High Low Value Volume
$1.90 $1.91 $1.88 $8.431M 4.439M

Buyers (Bids)

No. Vol. Price($)
7 57900 $1.89
 

Sellers (Offers)

Price($) Vol. No.
$1.90 141847 6
View Market Depth
Last trade - 16.10pm 16/07/2024 (20 minute delay) ?
KAR (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.