A successfull takeover bid would be the worst possible thing for holders of Karoon at the moment imo.
Anyone making a bid now would put no value (and rightly so) on Brazil or Peru because they are not proven resources at this time.
I would think that all we would be offered would be around the $10 mark ($8 plus premium). Not enough.
On the other hand, if an offer was to be made in say 18 months time, after the spud of Brazil and another couple of appraisel wells in the Browse, potential would be $20 plus.
IMO Karoon will never be a producer, it will be taken over at some stage, but not just yet thanks.
There could be a nice supprise for us all after D&M finish their re-appraisel on the company in next couple of months. I am guessing this report will be finished in time for Bob to do a promo road show to get a capital raising away around november agm.
oh i hope this is true!!, page-7
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