UBS rates KAR as a Strong Buy *effective 13/05/13 @9am
Karoon Gas has increased the size of the gross oil column intersected at the Bilby-1 exploration well, Santos Basin, Brazil. The column is now confirmed at 320 metres, against 200m previously.
UBS notes the well does have a relatively low net to gross ratio and appraisal drilling is still required to delineate size and commercial potential. The well is yet to reach the primary Santonian target.
A Buy rating is maintained and the price target is raised to $8.00 from $6.45.
As a high risk/reward play UBS warns investors to expect significant volatility in the share price, particularly while drilling continues.
Target price is $8.00 Current Price is $6.69 Difference: $1.31
If KAR meets the UBS target it will return approximately 20%
ubs 'buy' rating.. $8+ price target
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Last
$1.48 |
Change
0.040(2.78%) |
Mkt cap ! $1.187B | |||
| Open | High | Low | Value | Volume |
| $1.48 | $1.50 | $1.43 | $9.575M | 6.503M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 32083 | $1.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.49 | 9716 | 1 |
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| Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
| KAR (ASX) Chart |