Karoon has US$175m in cash and should add more than US$60m / qtr operating cash flows in the next 2 quarters before ramping the 2022 CAPEX works = a total of over US$300m cash by end March 2022. This is roughly the planned Bauna interventions and Patola costs.(below)
So the company should be debt free and have the capacity to continue to invest in what appears from yesterday’s Strategy Refresh to be a very prospective Brazil oil opportunity set.
As a LT shareholder I would want KAR to pursue M&A opportunities in a disciplined and focused manner. IMO oil is underinvested globally and the environment is ripe for smaller operators with proven execution capabilities like KAR to profit .
Karoon Cash Flow to double to over US$150m / Quarter, page-4
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Last
$1.38 |
Change
0.030(2.22%) |
Mkt cap ! $1.075B | |||
| Open | High | Low | Value | Volume |
| $1.35 | $1.39 | $1.34 | $4.466M | 3.266M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15786 | $1.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.39 | 1601 | 2 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| KAR (ASX) Chart |