KAR 0.00% $1.38 karoon energy ltd

petrobras discovery, page-7

  1. Ya
    6,809 Posts.
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    Dolphin update...

    From the operator's recent preso, Santos gig should commence around August 2012.

    Blackford Dolphin's hire dayrate is still US355k/day. Slide #11 (Legend's dayrate is $293k/day).

    http://feed.ne.cision.com/wpyfs/00/00/00/00/00/18/53/B8/wkr0001.pdf

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    KAR's proposed first well is:

    1) Kangaroo-1 (39% success rate), followed by
    2) Bilby-1 (24.5%).
    3) 3rd well's location will depend on results

    From a numbers perspective, their SA project IRR looks attractive, i.e 29%.

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    On another note, with Pluto hummimg away yesterday arvo, WPL should start focussing on its Torosa FID & divestment process to interested parties. The deal metric is what one would perhaps apply as a base case (plus a premium) on KAR's current 40% equity in Greater Poseidon.
 
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