take a look at kar, page-3

Drilling probably not till 2nd half, due to hardships obtaining a rig. Defined risk getting better due to 3D, possibly up to 2 billion bbls of liquids. All low key now, but should go hard when drilling contract is announced. Huge potential for a small oiler. Karoon's partner is ConocoPhillips which is becoming the major player in Australian oil & gas, currently the 3rd largest oiler in the world and gaining momentum. Worth a look capman, will be a wait & see though. Yes it's charting down slowly, but everybody is just waiting, it's a little known company at the moment.