KAR talked up this partner drilling in Canario at the AGM. Now a dud - could see short term weakness in KAR continue. I expect below $5 as no real news for a while.
See announcement below from Drillzone website. Sold mine today.
Panoro Energy ASA announced that the drilling of the Canário well is completed. The Canario exploration well 1-VBEP-2-SPS was drilled in Concession BM-S-63 (Block S-M-1036) in the Santos basin. The well is located about 143 miles (230 kilometers) south the town of Santos, São Paulo State, Brazil, in water depths of 656 feet (200 meters). The well has reached a final depth of 14,600 feet (4,450 meters).
Panoro Energy ASA is currently evaluating the drilling results of the Canário prospect. However, preliminary data indicate that the well has not encountered material reservoirs with hydrocarbon.
Following the abandonment of this well, the GSF Arctic I (mid-water semisub) rig will be moved to drill the third prospect in the exploration campaign, the Jandáia Prospect, which is expected to spud within two weeks.
partner in santos basin brings in a sand dud
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Last
$1.88 |
Change
0.035(1.90%) |
Mkt cap ! $1.502B | |||
| Open | High | Low | Value | Volume |
| $1.88 | $1.90 | $1.87 | $10.04M | 5.345M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 60210 | $1.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.88 | 140038 | 5 |
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| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
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