KAR 2.56% $1.53 karoon energy ltd

valuation of maruja well, page-6

  1. 7 Posts.
    This is from Patersons Securities


    We maintain our SPECULATIVE BUY for KAR with an updated price target of $10.35/sh (previously $10.42/sh). The main updates to our valuation include the de-risking of the Oligocene reservoir volumes in the Maruja discovery from 50% to 80% and the removal of the potential resources from the deeper Palaeocene and Companion objectives. Going forward, we believe KARs share price should gather momentum through definitive drilling programs in the Browse and Santos Basins during CY2011.
 
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