research - price target $9.18 - baillieu

After a long period of planning and behind-the-scenes work, Karoon Gas is
about to turn on the most aggressive oil and gas exploration program even
undertaken by an Australia independent. Over the next 18 months Karoon
investors will participate in at least 11 high-impact exploration wells – with
a total cost of more than $800 million – in Australia, Brazil and Peru.
?? At the end of this amazing program Karoon will be one of two things – it
will either be a small explorer with an interesting LNG project in Western
Australia (which it is now) or it will be a multi-billion dollar company sitting
on the biggest reservoir of oil ever amassed by an Australian explorer.
?? All exploration activity carries the risk of catastrophic failure. All exploration activity carries the risk of catastrophic failure. However,
Karoon over 2012-13 plans to drill seven separate oil and gas targets, the
smallest of which is estimated to carry 200 million barrels of recoverable
oil. Karoon would need the worst luck in exploration history to draw a blank
on all of its targets. In the best case scenario, Karoon could end up with a
net bankable reserve of more than one billion barrels


WORSE LUCK IN HISTORY OF DRILING I LIKE THAT

HOW IS THE TRADING GOING NOW???? Drill rig information seems out and all of a sudden a Broker report mmmmm