It seems more like a quick patchup job by ECB, who've been banding KAR since inception, they still can't get their numbers to match up their text!! Cant b that hard now, if one was so close to the company.
ECB's latest valuation for a 7tcf resource for KAR's 40% stake puts a value of $2.4b for Browse prospects.
With 250m shares on issue, this is worth $9.60/sh not $9.30/sh, as the tusker mentions in his latest valuation.
Fortunately, he got the overall prospects valued right, 2905m/250m = $11.62/sh, but then Browse is in the spotlite for now, then Sth America. Hence $9.60/sh seems a fair price.
And then the typical cover y'r backside pearler....
"Due to the imminent announcement of the outcome of the Poseidon-2 well – which will affect our valuation by up to $5 per share – we maintain a HOLD recommendation. Karoon shares are High Risk and suited only to professional investors or investors with a high risk tolerance."
Thats confusing, $5 up or down, perhaps the latter. Yep, we all know by now the impact of losing an MDT tool & a liner tool, one month after reaching TD, did to the SP at P#1. Hence the advice, 'suited to professional insto's' or those with deeper pockets.
Anyways look fwd to an update on the logging/testing results, as that will b the necessary trigger for the SP, instead of a brokers recco.
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$1.75 |
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Mkt cap ! $1.405B |
Open | High | Low | Value | Volume |
$1.78 | $1.79 | $1.74 | $5.751M | 3.281M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 10000 | $1.74 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.75 | 7996 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 10000 | 1.740 |
1 | 16000 | 1.735 |
9 | 140495 | 1.730 |
6 | 59347 | 1.725 |
10 | 66251 | 1.720 |
Price($) | Vol. | No. |
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1.750 | 7996 | 1 |
1.755 | 84859 | 3 |
1.760 | 57088 | 4 |
1.765 | 35782 | 3 |
1.770 | 5782 | 1 |
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