There seems no reason for the share price to be going down for...

There seems no reason for the share price to be going down for Karoon Gas. The IPO was not a bust for share holders, in fact, may be a money maker and KAR selling a majority with a high royalty agreement. This would eliminate cash requirements and increase cash position.

Karoon has enough cash position to handle it own drilling next year and more without COP. This puts the share holder in a strong position IMO.

COP and KAR changing the agreement on WA-314P is nothing new in business agreements. It seems that there is more chance of success in WA315-p and WA398-P. There is nothing new here. This is allocating funds in the best method.

There are several articles on the web saying Karoon has assessed seven leads and prospects within WA-314-P and believes the permit has the potential to contain over 10 trillion cubic feet of gas and 150 million barrels of condensate. The Grace prospect has 3.3 trillion cubic feet of gas and 45 million barrels prospective resource potential. These prospective resource estimates do not include the portion of the Grace prospect which lies outside the WA-314-P permit boundary,

This is positive news! I believe that Karoon will provide a viable 2011 drilling plan soon (before end of year).

Long term investors are still having a positive share price




At present we are still in a down trend. This is nothing new. This stock has had many of these.



I have several buys in around the A$8.00. I still consider these as good investments and plan to buy around the A$7.00 level

Bob