This is the second well with no conclusive gas flow rate at a...

This is the second well with no conclusive gas flow rate at a commercial level in either well. KAR might have 7tcf of gas but its worth nothing if it wont flow at commercial rates given where it is. There is clearly gas within the structures but these wells have not been able to clarify any real flow rate as yet. This announcement makes me think of the first announcement on the 'discovery' Its like we have a discovery but we don't have a discovery stuff. The announcement was as positive as they could get it with a relatively poor result. Everyone knew it was a risky well.The company will continue to drill in the coming months.These wells are exploration wells, so even if this comes in, the company will need to spend big dollars to re-drill them as production wells. This will mean more money down the track. I think this proves just how hard this game really is. KAR is going to take some time to prove up its prospects and it really only takes one big well to set the price on fire. I would like to see them drill off Brazil. This company has great prospects but its far from cheap with a market cap of over $1 billion and no reserves or flow rates yet. They are billions of dollars away from any commercial production as well. I am sure their phones would be very busy explaining all this to the funds in the stock so they don't wake up and melt the thing. I like Karoon, but its going to take a lot of time and many more wells before this company can claim its really got the goods. The stock tends to crash hard on bad news and recover, so lets see what happens. I sold out a while back, but hope to revisit the stock at some stage. dyor and good luck to those who take a risk in the first place.