OK - so woodside just said
1. boosting the company's oil reserves through acquisitions remains a priority -> KAR
2. Deals <$1b USD -> KAR
3. Deals with oil producing assets 0-5 years -> KAR
Overnight we had oil rip on OPEC saying that most countries want to cut, and the bottom is in oil. This should give more confidence to companies investing in oil assets.
My only question is -> why doesn't woodside take out the whole of Karoon instead of partnering? I understand some big shareholders are in at $5-6 so that would be one reason. But if woodside paid $4-5 then would Karoons board sell?
Interesting times.
PB.
KAR -> Woodside takeout ? Perfect STORM!
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$1.80 |
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Mkt cap ! $1.458B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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