Reuters
Production from Karoon Energy's Bauna field likely to rebound - Citi
Jan 16, 2024 at 7:27 pm GMT
** Analysts at Citi says production from oil and gas explorer Karoon Energy's KAR.AX Bauna field is likely to rebound
** Citi says surface related issues are responsible for underwhelming production from Bauna field and not issues related to the reservoir
** The reservoir is performing in line with 15% per annum decline rate co forecast - brokerage
** adds, underwhelming daily production data for from Bauna field has lead to share price weakness
** However, says weakness in share price due to surface related issues should be seen as buying opportunity
** Citi rates it "buy", gives target price of A$3.25/shr
** Ten of 11 analysts rate the stock "buy" or higher and one "hold"; their median PT is A$2.59 - LSEG Data
** Stock down 8.1% this year, as of last close
Reporting by John Biju in Bengaluru
ReutersProduction from Karoon Energy's Bauna field likely...
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