You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:
Business Description: Karoon Gas Australia Limited (KAR) is an Australian oil and gas exploration company operating in Australia, Brazil and Peru. KAR currently has 5 projects, the producing Browse Basin offshore gas reservoirs and the North Carnarvon Basin (Australia), the Tumbles and Maranon Basins (Peru) and Santos Basin (Brazil).
Strategy Analysis: The Karoon Board and management are committed to securing high quality hydrocarbon exploration areas with the right partner. KAR is currently in a JV with ConocoPhillips in regards to the WA-389-P permit, with Karoon contributing 40% equity. The Board believes that the Browse Basin permits are ideally located and will continue to take advantage of continuingly favourable hydrocarbon prices. The company strategy will focus around capitalizing on oil prices and accelerating exploration programs. KAR has completed processing seismic surveys of WA-314P and WA-316-P and is now interpreting the data set in preparation for the selection of drilling targets. The Poseidon Prospect remains a high grade source of production, with other areas in that region, anticipated to result in important additions to the potential resource base
Karoon Gas Australia reported positive cash flow of $27.63m for the quarter ended 31 December 2012. Operating cash flow for the period was $(53.17m). Payments for exploration and evaluation were $(51.98m). Investing cash flow was $80.8m. Financing cash flow was nil. Cash in hand at the end of the quarter was $228.25m. Key activities during the quarter included the successful testing of the first well in the phase two Browse Basin drilling campaign, with the Boreas-1 exploration well achieving an equipment constrained stabilised gas flow rate of 30.2 million standard cubic feet per day through a 40/64" choke at a well head pressure of 3,300 psia and an associated condensate rate of 18 barrels per million standard cubic feet. In addition, drilling in Brazil commenced with the Kangaroo-1 exploration well, which spudded during December 2012.
Nick Swales, Regional Director, Newcastle Office, Rathbones 27/10/2014 |
â€śIf you want to have a better performance than the crowd, you must do things differently from the crowd.â€ť Sir John Templeton.
Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 |
Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.
Carl Richards, director of investor education at the BAM Alliance 17/10/2014 |
â€śAs odd as it may sound, the sooner you start treating your investments like you treat life, the happier youâ€™ll be with the outcome.â€ť
William H. Gross, Janus Capital Group 16/10/2014 |
â€śFinancial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding â€śminusâ€ť 10 basis points.â€ť
CMC Markets 8/10/2014 |
Share market indices around the globe are breaking down. While analysts cast around for reasons, itâ€™s clear that a time factor is in play. Simply put, many investors â€śfeelâ€ť a correction is overdue. How low could it go?
IMPORTANT: This information has been prepared without taking into account your objectives, financial situation or needs and you should consider if the information is appropriate for you before making an investment decision. Neither InvestSMART Financial Services Pty Ltd nor any of its Related Companies make any recommendations as to the merits of any investment opportunity referred to in its emails or its related websites. Product disclosure statements for financial products offered through InvestSMART can be downloaded from this website or obtained by contacting 1300 880 160. You should consider the product disclosure statement before making a decision about the product. All indications of performance returns are historical and can not be relied upon as an indicator for future performance.