Karoon and COP will not place a hole in the ground at this point...

Karoon and COP will not place a hole in the ground at this point with minimal potential of producing good results. This will negate all efforts to maintain a minimal KAR stock unless the news goes down hill.

Time will be taken that the BOP is solid because they know there is potential on this hole.

What they found with Poseidon-1 was:
The Joint Venture has obtained significant information from Poseidon-1 as outlined below: The well has penetrated a 317m gross gas bearing Plover Formation over the interval 4795 to 5112 mRT with three gross gas bearing sands totaling 228 m. Wireline pressure testing of four data points and sampling (MDT tool) in the lower sand interval shows a gas gradient, indicating that the reservoir contains gas. The gas water contact has not been penetrated, indicating the potential for additional gas below the total depth of Poseidon 1. Estimations of reservoir permeability (indicative of flow rates) based on log derived porosity and four pressure data points, suggest that that reservoir section will flow gas. As Karoon has currently mapped, the well is located over one hundred meters below the trap crest of the Poseidon structure with an interpreted gross gas column for the structure of over 430m. The area of the structure as currently mapped is around 280 square kilometers. Remapping is underway. Karoon's analysis of seismic and well results to date indicate the contingent resource discovered in this well is likely to be consistent with or exceed Karoon's pre drill prospective resource range (P10- 15 TCF, P50- 7 TCF and P90-3 TCF).

Given this is the target being upend KAR stock will continue rising and profit takers will take profits along the way. So the stock will go up and down based on the profit takers.

The trigger will appear when the first gas is detected. At that point hope all have their purchases complete.

Karoons management can get the stock moving by a good report. to this effort they are busy in both Browse and Brazil areas.

Bob


P.S. hang in there GZ. Goooooo the Gasssssssssssssss!!!!!!!!!!