# KAR - Karoon Energy



## GreatPig (8 August 2005)

Pushed up to a new all-time high today.

Cheers,
GP

[I hold]


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## Smurf1976 (19 July 2007)

What happened to this one yesterday? Down nearly 20% but the only news I could find was that they'd signed a contract for a drilling rig. Am I missing something here?


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## grace (29 November 2007)

This one is on my buy list.  Am just waiting for some weakening in price as the oil drill rigs are running late and will not start until Q3 08.  I can't see why there is any reason to buy until next year closer to drilling timetable.
Charlie Aitken's has given this a ramp - expects this one to go 500 - 1000% within 5 to 10 years ie a $20 to $40 stock.  Not many people following this one yet???


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## sheepdip (29 November 2007)

I'm with you Grace. I've had this sitting in my watchlist for a while now but don't see any major reason to rush in and buy just yet. Future looks very rosy for this one though.


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## morton_mains (11 February 2008)

Current mkt seems to undervalue prospects - 
Cash at bank 31/12/07 $124M or 94c of current $2.10 price - last raised $51M in Nov07 @$3.45 to sophisticates.


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## morton_mains (7 May 2008)

Well what a difference 3mths makes.
Now $3.36 up 44% glad I took my own advice; seemed logical for SP to re-rate. Still more to come - quality shows in the $443M mkt cap.


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## grace (7 May 2008)

morton_mains said:


> Well what a difference 3mths makes.
> Now $3.36 up 44% glad I took my own advice; seemed logical for SP to re-rate. Still more to come - quality shows in the $443M mkt cap.




Been on my watchlist for some time.  What's happening going forward?  Is drilling on schedule for q3 08?


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## wipz (7 November 2008)

Any chance of this stock getting taken out by woodside, BP, chevron, BHP or shell considering the proximity to brecknock, calliance and torosa?
Would make sense....

wip


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## grace (7 November 2008)

wipz said:


> Any chance of this stock getting taken out by woodside, BP, chevron, BHP or shell considering the proximity to brecknock, calliance and torosa?
> Would make sense....
> 
> wip




You could be on the money there.  What's been happening with this one?  When are they drilling?  I haven't been following for a few months.....


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## Lachlan6 (7 November 2008)

KAR is offering no immediate hope that it will undergo some major new uptrend. However it may continue to bounce in the shorter term. I have provided the Elliott Wave interpretation which suggests that the stock is in the corrective wave 4 of the larger wave (C). Remember the wave (C) should take the form of five seperate waves, meaning that after we have this likely bounce, a final move to the downside should occur. Friday's positive close suggests some buying is coming into the stock however I wouldn't expect too much but probably back into the typical retracement area around $3.00.


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## hedge30 (17 November 2008)

I believe this went into the Australian top 200 today?? Could def be one to watch Looks very interesting


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## wipz (20 November 2008)

grace said:


> You could be on the money there.  What's been happening with this one?  When are they drilling?  I haven't been following for a few months.....




q1 09?
i don't know! i don't follow it, but given woodside is going to develop browse kar seems to be a no brainer.
either:
a) get taken out
b) pipe their gas through woodside facilities

i think im going to get in when this market settles down!

cheers


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## wipz (28 January 2009)

I'm in this as of today.

Targeting a *monster reserve *of gas in the Browse Basin.
Just spudded 1st well (Poseidon-1) of a *200 day drilling program*.
Poseidon-1 is targeting *7 TCF *and is in the same formation as Woodsides 21 TCF Torosa, Calliance and Brecknock gas fields.

Any gas find (highly likely) will send this small cap north.

With *AU$140m cash *and *no debt *I just couldn't resist, the up side is huge.

GL Holders, very exciting times.


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## wipz (29 January 2009)

Just a recap of the estimated p50 reserves the ConocoPhilips and Karoon JV are targeting in this 200 day drilling program (as per the AGM presentation on 27-11-2008):

*Poseidon -> 7 TCF
Kon-tiki -> 7 TCF
Grace -> 5.7 TCF
Dyfken -> 4 TCF*

Over* 20+ TCF!*

DeGolyer & MacNaughton have conducted an assessment and concluded 6.77 TCF for the Browse basin targets:

1.23 Billions of BOE ( based on DeGolyer & MacNaughton Assessment)
= 1,230,000,000.00 BOE
= 6,765,000,000,000.00 Cubic feet of gas (based on 1boe = ~5,500 std cubic feet of gas)
= 6.77 TCF

Karoon has *AU$140 mil cash *, *zero debt* and market cap of ~$420 mil, if 6.77 TCF is found this small cap will go through the roof.

I personally believe gas will be found, as i mentioned before, the fields are in the same formation as woodsides 21+ TCF Torosa, Calliance and Brecknock gas fields.

Well worth an educated punt.


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## grace (29 January 2009)

wipz;[B said:
			
		

> Grace -> 5.7 TCF
> 
> 
> Well worth an educated punt.




Did some research on this about 18 months ago.  In the right position to find something good.  Nice name too!  I have been investing a lot in the onshore variety - csg.

Too tired to get my brain around the numbers at the moment.

Offshore gas costs 4 x to get to LNG compared with csg (I recall reading that and posting in the csg thread).  Also taxed at 4 x compared to csg.  That comes from memory too (and the govt is bound to increase on the csg variety though).  I'll post up some facts and figures on comparisons when I get time.

I recall Southern Cross Equities had a $20 price target for 3.5 yrs time (as they gave it about 18 months ago).  Haven't read their recent targets though.

Will discuss some more with you when I get some time.


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## wipz (9 February 2009)

Hmmmmmmm, no interest here in Karoon?  Having a great run, up 50% in a couple of weeks.
Drilling Poseidon-1 7tcf target.

Grace, I'd like to hear why you prefer CSG over LNG.

Anyone else holding Karoon?

Cheers.


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## sinner (9 February 2009)

Yep, in at 2.94, +17.7% as of right now.

Not sure how this stock will hold up if the market tumbles again, but happy to hold over the longer term.


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## grace (9 February 2009)

wipz said:


> Hmmmmmmm, no interest here in Karoon?  Having a great run, up 50% in a couple of weeks.
> Drilling Poseidon-1 7tcf target.
> 
> Grace, I'd like to hear why you prefer CSG over LNG.
> ...





Pull up a chart for PES over the last 2 years, and you'll see why I like csg!  and read the news today.

I am watching Karoon though.  It has some enormous potential.

Some of the figures say 1/4 of the cost to get csg to LNG as opposed to convential gas to LNG.  Don't believe my memory though, I'll post up the link for this when I have time.

I do like Karoon though.


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## Dangerous (10 February 2009)

Offshore gas costs 4 x to get to LNG compared with csg (I recall reading that and posting in the csg thread).  Also taxed at 4 x compared to csg.  That comes from memory too (and the govt is bound to increase on the csg variety though).  I'll post up some facts and figures on comparisons when I get time.


Grace, I don't know that this can be said given that LNG plants for CSG have not even been built.  If you were to look at CSG stocks to conventional stocks over the last few years you would argue that CSG is the way forward.  However, there are massive challenges for CSG to LNG as oppposed to the proven conventional to LNG - a few hundred CSG wells equal one conventional well!  Further to this the CSG producers don't know what to do with all the water and are not yet 100% sure that they can even shut in their wells.  This makes the process of turning on a LNG plant a logistical nightmare.  Add to this the enormous CSG footprint (2,000 wells for each big producer) and all the associated landholder issues and costs.  I understand that if the multinationals have the will, there is a way, but remember that one WPL well can produce more than all of what QGC and AOE can produce in one day... The WPL's and Exxons of the world realize this and perhaps that is why Shell has not yet acted - Voelte has made his thoughts on CSG well known.  I trade CSG stocks purely (no pun intended) for the sentiment behind them, not the fundamentals, although i believe it to be a great domestic gas source.


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## grace (10 February 2009)

Dangerous said:


> Offshore gas costs 4 x to get to LNG compared with csg (I recall reading that and posting in the csg thread).  Also taxed at 4 x compared to csg.  That comes from memory too (and the govt is bound to increase on the csg variety though).  I'll post up some facts and figures on comparisons when I get time.
> 
> 
> Grace, I don't know that this can be said given that LNG plants for CSG have not even been built.  If you were to look at CSG stocks to conventional stocks over the last few years you would argue that CSG is the way forward.  However, there are massive challenges for CSG to LNG as oppposed to the proven conventional to LNG - a few hundred CSG wells equal one conventional well!  Further to this the CSG producers don't know what to do with all the water and are not yet 100% sure that they can even shut in their wells.  This makes the process of turning on a LNG plant a logistical nightmare.  Add to this the enormous CSG footprint (2,000 wells for each big producer) and all the associated landholder issues and costs.  I understand that if the multinationals have the will, there is a way, but remember that one WPL well can produce more than all of what QGC and AOE can produce in one day... The WPL's and Exxons of the world realize this and perhaps that is why Shell has not yet acted - Voelte has made his thoughts on CSG well known.  I trade CSG stocks purely (no pun intended) for the sentiment behind them, not the fundamentals, although i believe it to be a great domestic gas source.




Here is the story and link - what do you think?



> A recent comparison of conventional LNG projects with coal seam gas projects by Deutsche Bank analysts illustrated the differences neatly. They compared Woodside’s Pluto project with Santos’ Gladstone LNG (GLNG) project, which will source gas from its Fairview resource.
> 
> Pluto will drill five wells to support its initial LNG production. GLNG will drill 540. Pluto will increase its number of wells to 8, while GLNG will be adding about 60 wells a year.
> 
> ...




http://www.businessspectator.com.au/bs.nsf/Article/Gas-rises-on-demand-F953F?OpenDocument


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## Dangerous (11 February 2009)

Just put my thoughts down quickly

*540 wells for Fairview *- seems very light.  What is STO's requirement for one train?  BG's requirement is 550TJ/day.  So each STO well would have to do a TJ a day.  I think they would be wanting closer to 700 wells on line.

*Tax -* rest assured that the QLD govt will ensure it gets a big slice.  Remember what they did to coal?  "Oh, we've got a $2B hole... I know we'll raise royalty on coal from 7% to 10%".  

That said, the resource is owned by the State, so the Commonwealth will not be able to touch it.

I'm sure the analysts did their numbers thoroughly but as i understand under the PRRT exploration costs are deductible - it is a net back method.  State royalties on the other hand are far more specific and many expenses are not deductible.

*Ramp Up - * Two years for fairview!  And what are they going to do with all the water.  STO, ORG and BG will all be looking to put their water somewhere.  It won't evaporate, RO is very very expensive and the Govts are worried about salinity.  Further to this, where the hell is all the gas going to go in the ramp up phase?  And like i have said before, they are not sure that they can shut the wells in without losing pressure and another dewatering phase.  On the other hand, there is a theory of shutting the wells in on a rotational basis.  This would involve rotating through a pod of three or four.  To shut them in remotely adds $30K to the cost of each well - 30M over 1,000 wells.

*Footprint -*  How huge is the footprint of CSG?!  Imagine thousands of wells in SE Qld each spread 1km apart with gathering system networks and trunklines.  Compare this to the footprint of eight wells in govt waters to having to deal with land holders?  I would love to see a 2013 gathering system "x-ray" of SE QLD!

*Summary - * I am know expert, but CSG to LNG has many challenges whereas conventional to LNG is tried, tested and proven.  Like i said, where there is a will, there is a way and the prices being paid for the likes of PES show the extent of the will.


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## sinner (23 February 2009)

Great post Dangerous, but it went right over my head! 

Have included a KAR chart. Break down from here would not be pretty.


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## app2 (23 February 2009)

I'm a complete nub, but is that a double-top with a bearish divergence on the RSI?

Any TA gods out there?

A.


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## Dangerous (24 February 2009)

sinner said:


> Great post Dangerous, but it went right over my head!




Sinner, post was in response to Grace's comments which might help make sense.

Yeah, there is no way i would be buying Karoon.  Only an explorer spending money... Long way to go for these guys you would think, unless they have some exceptional early drilling results...


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## sinner (5 March 2009)

I really should be out of these guys as it has broken all my rules and formed what looks like a pretty ugly double top but my parcel is pretty small so not too concerned and like them as a "punt".

Credit Suisse has them as a "buy" with eye to $6 if they do ok, eye to $1.50 if they don't perform.

http://www.karoongas.com.au/Portals/0/PDF_Documents/News/2009/Credit Suisse 09 Feb 2009.pdf

Naughty naughty breaking through all the pretty lines, then it comes up with a perfect Dragonfly Doji.

From
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:candlestick_pattern

Check out todays candle on the daily. Joining the SP200 means they will benefit and hurt from the market sentiment more.


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## grace (27 April 2009)

Dangerous, where are you......are you all over this move?  Only a few more days to go up, and I might win Aprils stock comp.  It has broken all time highs today though, so I won't hold my breath.

Nice move today with the sell column pretty well gone.  Can it keep going?  Anyone got any comments on the hydrocarbon hit?  I'm more of a coal seam gas girl so I need a little help here......


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## Jigalong (28 April 2009)

Hi Grace,

Thanks for posting that article on CSG vs LNG - very interesting. 

Glad you stuck with your KAR, as I did. Even though I bought at $2.40, I am in for the mid to long term on this one and will not be taking any profits today.

There was some big buying from serious money, near the close yesterday. It was an exciting few minutes.

Cheers,

Jigalong.


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## grace (4 May 2009)

Trading Halt awaiting news on the drill results of Poseiden 1.  Would this be the wire logging??  Was moving nicely prior to this...


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## OzFrisky (4 May 2009)

Rumors of a problem with the drilling/testing equipment. Maybe some delays now in reporting the results.


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## adventra05 (8 May 2009)

The last posiedon adventure ran to $280 prior to collapsing so perhaps there is much more to play out here yet? Volume has remained very light the past cpl wks all things considered... looks like most are happy to hold out in confidence for now...  interesting to watch this play out as big bucks involved.. gl to all..


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## grace (19 May 2009)

Well, how on earth did those drillers get a tool stuck down the hole anyway?  This is an enormous find - over 300 metres of gas.  Now we have a delay while another drill goes down.  It is lucky I am not holding..
Still like the prospects and will wait for a nice entry price as holders get bored waiting again.
Looks like I'm not going to win this months stock comp!


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## grace (30 May 2009)

Well, that will teach me, was watching it on that bad day, and of course it hasn't had one since.  Thought I would post a chart for comment as I'm not a tech head.  Well, looks bullish now I would think.  Perhaps will bust through all time highs.


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## gruntle (5 June 2009)

does anyone out there have any idea what this morning's trading halt has to do with? good or bad news?


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## JTLP (5 June 2009)

gruntle said:


> does anyone out there have any idea what this morning's trading halt has to do with? good or bad news?




Just to let you know mate if you open up the ann and take a look at what the company faxes to the ASX you can almost always find the reason in there...

In this case it is the result of a cap raising...

Don't hold KAR but golly it's had a nice run!


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## tashimoto7 (25 June 2009)

Another great day for Karoon, but has anyone seen any news today to explain the double digit increase?  I couldn't find any anouncement.


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## wipz (30 June 2009)

Transocean legend on its way to kontiki-1
Fingers crossed for another poseidon-1 size find!!!
I hear that the japanese can smell the gas already


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## wipz (13 July 2009)

KAROON breaking out today, lucky I am loaded up. 
Kontiki-1 spud is imminent and a great interview last night on inside business between Alan Kohler and Bob Hoskings - have a look:

http://www.abc.net.au/news/video/2009/07/12/2623375.htm

Cheers all



wipz


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## shag (13 July 2009)

grace said:


> Well, how on earth did those drillers get a tool stuck down the hole anyway?  This is an enormous find - over 300 metres of gas.  Now we have a delay while another drill goes down.  It is lucky I am not holding..
> Still like the prospects and will wait for a nice entry price as holders get bored waiting again.
> Looks like I'm not going to win this months stock comp!




i'm no expert but its relatively easy to get a 'tool' stuck down a well. a tool is just a general term that relates all manner of devices, not just a spanner or a hammer say(and dropped down a well). if thats what you were actually thinking.

this puppy is interesting and his words on the others in the csg/csm market were worth listening too as well.


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## grace (13 July 2009)

shag said:


> i'm no expert but its relatively easy to get a 'tool' stuck down a well. a tool is just a general term that relates all manner of devices, not just a spanner or a hammer say(and dropped down a well). if thats what you were actually thinking.
> 
> this puppy is interesting and his words on the others in the csg/csm market were worth listening too as well.




I was just poking a bit of fun at those drillers.......how much do they get paid for those drills again!!!???  Yes, things do go wrong I'm sure.  It was interesting listening to the CEO.


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## DVEOUS (13 July 2009)

I watched the I/V on Inside Business - interesting, and now on my watchlist.

Seemed like a down to earth (no pun intended) guy.
Not your usual Pitt St toffee nose CEO type.

Up over 6% today, and I bet the positive exposure on Inside Business had something to do with that.
You have to wonder if Kohler buys into these companies a few days before I/Vs are aired?!!!


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## Miner (13 July 2009)

KAR did very well today and congratulations to all holders (DNH)

I read however this recommendation in THE BULL  with Sell recommendation which I do not believe

"*Steven Hing, Novus Capital 
*
Karoon Gas (KAR)

Widely pushed last year as a “baby Woodside”, this gas producer has enjoyed a stunning run in recent times, almost quadrupling in price. The company recently traded above $9 and announced a share purchase plan at $6.70. *The stock looks set to fall from these lofty heights, possibly back to $6*. Despite making a large discovery, the company is still continuing exploration and will *need to do feasibility studies before producing any gas*."


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## wipz (23 July 2009)

That broker is eating his own words now, I bet he wanted to buy more.. 
Anyway, KT1 should have spudded by now, awaiting an announcement from the JV.
It's soon to be groundhog day as hoskings has stated that KT has the potential to provide a discovery of equal size & magnitude to Poseidon.

My precious


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## jancha (23 July 2009)

Yes I was looking at getting into KAR @ $9 until I read Steven Hings report. Kind of put me off. Someone once said if a broker says buy you sell & sell you buy. I think one of them had WPL as a sell @ around $40 at the time. They were up around $44? since. Not bad. Makes you wonder what they get paid for.


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## dude27 (23 July 2009)

The ride continues.  Read in an article on The West that karoon is tipped to hit $17 per share by credit suise pending positive drill results.

Hopefully drill results will be positive!

Note bias: recently purchased and holding!


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## YELNATS (24 September 2009)

KAR has taken quite a tumble today to as low as $8.33 on release of a drilling report at about 11.25am.

I didn't think the report was too bad, except perhaps the statement:

Quote
As with the recent gas discovery well, Poseidon-1, even if successful, Kontiki-1 is planned to be plugged and abandoned following final well evaluation and production testing if applicable.
Unquote

Does anyone have any comments on why the market has treated KAR so harshly today?


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## skyQuake (24 September 2009)

YELNATS said:


> KAR has taken quite a tumble today to as low as $8.33 on release of a drilling report at about 11.25am.
> 
> I didn't think the report was too bad, except perhaps the statement:
> 
> ...




They've pretty much said No gas. Which is problematic as that was the main driver behind the share price.


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## ShareGuy (24 September 2009)

This also happened on the 19 May when a drilling rig got stuck, just turned out to be a good buying opportunity.  as will this one IMO


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## milothedog (24 September 2009)

This is from someone who doesn't follow KAR closely....but the wells are exploration wells, always planned to be P&A.  They are drilled to get information about the size and formation of the field.


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## YELNATS (24 September 2009)

skyQuake said:


> They've pretty much said No gas. Which is problematic as that was the main driver behind the share price.






ShareGuy said:


> This also happened on the 19 May when a drilling rig got stuck, just turned out to be a good buying opportunity.  as will this one IMO






milothedog said:


> This is from someone who doesn't follow KAR closely....but the wells are exploration wells, always planned to be P&A.  They are drilled to get information about the size and formation of the field.




Thanks guys for your somewhat varied responses. 

Have been taken aback by today's ann and the market unfavourable reaction.

Not sure how serious this setback is today, but still hanging on although now I have set a stop-loss at $7.50.


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## tashimoto7 (24 September 2009)

Hi Yelnats,

I was a bit surprised by the drop today too as:
* they still have to test the well for oil and gas (the process they didn't quite get right at Poseidon); 
* they haven't drilled all the way to the target depth (and Poseidon was deeper than they predicted); and 
* they've still found 40 metres or so of play so far.

Nearly all exploration wells are plugged and abandoned so that is not really a concern.  Any way I took today's plunge as a chance to top up some more.


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## DVEOUS (25 September 2009)

WOW!
It's closed to a level beneath that, prior to the exposure on "Inside Business" on ABC TV.

Looks like it's time for Karoon to come up with the goods, or else.

I bets lots got suckered in with this one, with their over sensationalized announcements. 
It's like watching the TEN News. 

Will it bounce back though, because it is an excellent buying opportunity if that were the case. 
Anyone have any views on whether KAR has the potential to come up with something tangible?


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## Nero64 (25 September 2009)

> Will it bounce back though, because it is an excellent buying opportunity if that were the case.
> Anyone have any views on whether KAR has the potential to come up with something tangible?




They said AED oil was a great buying opportunity as well when it started slipping from $11. 

There looks like there is some support around the $7 mark. If you trade it use stops.


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## Wysiwyg (29 September 2009)

Fandy naming drill sites Poseidon. Obviously a comedic movie buff among the directors. 
As for the price drop ... will horizontal S&R play a roll.


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## catman (30 September 2009)

Nero, KAR ain't no AED. 

It's not some one trick pony like AED was and has a major oiler spreading the word about the size of the Poseidon discovery.  Furthermore, these guys have some top self acreage next door to WPL's giant Torosa along with the Brazilian assets where Petrobras have just discovered a 500 million barrel oil feilds within 5km's of KAR's permits along trend.

You do the research if you can be bothered.

AED THIS AIN'T.


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## Largesse (29 November 2009)

Pretty unloved over here is old KAR.

Anyone have thoughts on most recent drilling update? 
Reading between the lines, there has been some unexpected outcome in the last few meters of drilling but not much info provided in the update.

My take: I see it as bullish and will personally be looking to add to the current holding tomorrow morning after the Dubai World debacle gave us a decent buying op.

Morgan Stanley have rated probability of success on P2 as between 70-80%,  with a re-rating in the multiples and Citi have been very positive in everything i've read.

Not a bad R/R if you ask me.

I expect some form of gap up tomorrow, but quietly hoping it doesn't. 

Would love to hear some other followers thoughts


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## white_goodman (29 November 2009)

Largesse said:


> Pretty unloved over here is old KAR.
> 
> Anyone have thoughts on most recent drilling update?
> Reading between the lines, there has been some unexpected outcome in the last few meters of drilling but not much info provided in the update.
> ...




Well if you ask me...

It's a dog with fleas, pal. What else you got besides connections at the airport.....


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## Largesse (29 November 2009)

fortunately, no one did ask you.



now, can someone who doesn't shave their chest please respond?


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## shaw38 (1 December 2009)

Largesse said:


> fortunately, no one did ask you.
> 
> 
> 
> now, can someone who doesn't shave their chest please respond?




I'm with you Largesse
I would expect an announcement in the next 2 days re results of core sample taken. I reckon we are in for a good xmas with this one about to explode.


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## skc (14 January 2010)

KAR down 25% today to $8 square thanks to "inconclusive" drilling results.

This stock has such a good record of falling into the abyss and then crawling its way back out...

19 May 09 - Opened at 5.86 but hit a low of $4.64 (down 20%) on some bad update

24 Oct 09 - Closed at $10.2 the day before, gapped open at $9.50 to a low of $7.9 (22.5%)

14 Jan 10 - Down 25%

Let's see if there are any further updates on the drilling and if KAR can rise again for the 4th time.


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## YELNATS (2 February 2010)

KAR in trading halt this morning until Feb 4 pending an announcement regarding their Browse Basin Acreage.

Any ideas of what the ann may be? KAR could use some good news after recent falls.


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## Miner (3 February 2010)

YELNATS said:


> KAR in trading halt this morning until Feb 4 pending an announcement regarding their Browse Basin Acreage.
> 
> Any ideas of what the ann may be? KAR could use some good news after recent falls.




Yelnats

The KAROON Gas (40%) announcement is here for your interpretation.

I would be watching market tomorrow seating on the sideline as I do not hold it.

Not sure who else associated with Conoco Phillips (60% holding)  will be affected by the news.


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## Miner (12 February 2010)

Surprise Surprise for more than a week no posting on KAR.

I do not hold it but keeping interest.

The price has got up today significantly and the report at Eureka Report by Tim probably written couple of days back. 

Notwithstanding I am sharing a very tiny bit of it. For cynical or pedantic people I am not violating any copyright here by inserting not even 2 % of the newsletter report. I have noticed Western Australia regularly publishes such recommendation more frequently, Same is done by Eureka Report people themselves when they publish extracts of other newsletters.

Any way bottomline Eureka Report has raised concern on KAR abilty to meet people expectation and also said it can not be Woodside. For further details please get a copy of EU .

" _But with about $1 billion in value wiped from the stock since January, Karoon reached a low of just $4.51 last Thursday, leaving many investors asking whether to hang on for a rebound, or join the rush for the exit.

The answer depends on your entry price, and risk tolerance,* because the Karoon story is not over, just embarrassingly postponed, and probably reduced in size forever.*

The primary cause of Karoon’s crash was the failure of the Poseidon No 2 exploration well, off WA’s north-west coast, to confirm a promising gas discovery first reported in the Poseidon No 1 well in April last year._" 

DYOR and read the full report by becoming its subscriber


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## Ding (7 April 2010)

Does any one have any ideas on KAR for the next 12 months? I am a stock holder but am undecided if i should keep it that way or not. Any ideas anyone?


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## YELNATS (19 April 2010)

KAR in another trading halt today pending a report on a drilling update in relation to the Kronos‐1 well in the Browse Basin.

If the market reacts similarly to the last trading halt, we could see the share price clipped yet again.

Waiting with some feeling of trepidation.


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## YELNATS (21 September 2010)

Karoon Gas (KAR) have just completed an institutional capital raising at $7/share and are now throwing it open to retail holders at the same price.

$7/share is not a particularly tasty offering, less than 10% below current trading levels.

Is KAR still a good story, even though this year seems to be pretty bereft of much encouraging news and share price has gone nowhere in recent months?

Can they be thought of as an investment target for Chinese or other foreign interests?

Still have a holding in KAR and am uncertain whether to take up their offer.


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## YELNATS (14 October 2010)

Is anyone still interested in following KAR?

Since the last post the sp has risen about 36% to as high as $10.18 today and now makes taking up the retail offer of $7/share a no-brainer.

I have sold my entire holding to partly finance taking up the $15,000 worth of shares at $7 each, but I imagine there will be a substantial scale back as others must be doing the same.

Certainly this is an impressive performance in only 23 days on no published news and perhaps reflects the possibility of foreign takeover or maybe increased investment.


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## Knobby22 (14 October 2010)

I have become interested.
Saw in featured on Alan Kohlers Business program last Sunday and that has really raised interest. Wanted to buy in but am on holiday next week.

The future for this company look bright.


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## awg (14 October 2010)

YELNATS said:


> Is anyone still interested in following KAR?
> 
> Since the last post the sp has risen about 36% to as high as $10.18 today and now makes taking up the retail offer of $7/share a no-brainer.
> 
> ...




Bpaying for the entire amount today was a very easy decision, did sell another stock, not KAR!

Brazil IPO etc driving the price atm imo, if you consider the placements at $7, price has gone up steadily despite potential sellers having opportunity to take substantial profits.

You would expect a very high take up rate at this discount, so some scaleback is inevitable. 

Like any exploration stock, has been very volatile to announcements, I dont expect that to change


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## YELNATS (25 October 2010)

Still no announcement re the retail SPP even though it closed last Wednesday October 20, but unfortunately I'm expecting a massive scaleback considering the offer price was $7 and the shares have already hit $11 today.


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## YELNATS (27 October 2010)

Woohoo! Surprisingly no scale-back as I got my full allocation today. 

But still no confirmation of the final SPP allocations by KAR yet.

As expected there has been a heavy sell-off over the past 2 days resulting in a drop of more than $1.50 in price. If it goes below $9 could be the opportunity to top-up further.


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## c-unit (31 October 2010)

Been eyeing this stock a bit lately. Bought in at $7.59 and sold out at $10 before the SPP allocations became tradeable. Bought a big parcel at $9.40 yesterday and hoping for good things from here! From reading other sites, most other shareholders are VERY confident about the next 12 months, with brazil IPO etc.

Let's hope for sunshine and lollipops


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## YELNATS (18 November 2010)

The market seems to have been unimpressed with KAR's latest annoucement after coming out of its' self-imposed trading halt/suspension, with the share price being slashed from memory from $9.14 to as low as $7.56 today:

Quote 

PetrÃ³leo Brasileiro S.A. (Petrobras), as operator, today announced the discovery of light oil in well 1-BRSA-870-SPS (1-SPS-76) situated in the MarujÃ¡ prospect within block S-M-1352 of the BM-S-41 Concession.

This well is located about 280 kilometers off the coast of the State of SÃ£o Paulo, Brazil, in a water depth of 400m. The reservoirs were found at a depth of 2,200 meters. The well continues to be drilled with the aim of exploring deeper objectives in the post-salt section.

Unquote

What could be cause of the disappointment, would it be the reference to "light oil" only?


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## StumpyPhantom (18 November 2010)

If the reference to 'light oil' caused the slump in the share price, thank goodness it didn't say 'no oil', as 9 out of 10 do.

Could the slump be because the Brazillian capital raising was put on hold pending the announcement and the market thinks KAR is going to sell too much so as to dilute the value of the current holding?

Grateful any views, because I'm thinking I should increase my stake at these levels.


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## Ken (13 October 2011)

any thoughts on Karoon Gas..

seems to have bounced well in the last week...

is it still in play?


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## notting (29 November 2011)

I'm playing a game with myself on KAR - Just with small trade.
It's called Karoon Jail.
I have to be long or short it.  I can only flip a trade.  I can't get out.
I must be board!


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## StumpyPhantom (27 March 2012)

What's all us KAR holders waiting for here (over and above chart trends?).

Does anyone thing we're waiting for a big gas reserve or pot of black gold?


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## beatthemarket (2 July 2012)

stock in trading halt... boreas-1 has already encountered drilling difficulty, so it may relate to more bad news re drilling progress, or alternatively it could be initial good news on an unexpected gas encounter.


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## notting (26 July 2012)

Conscientious - Oct 6 to Oct 7 2011!

It's been a good stock and made sure it's gone back down to fill that little gap left back there in 2011. Wonder what it will do next! 10% down and counting.


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## notting (26 July 2012)

notting said:


> Conscientious - Oct 6 to Oct 7 2011!
> 
> It's been a good stock and made sure it's gone back down to fill that little gap left back there in 2011. Wonder what it will do next! 10% down and counting.



What a difference an hour makes.  Went to %12 down and has reversed up to %9 percent on a big volume day.
Bullish?


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## skc (26 July 2012)

notting said:


> What a difference an hour makes.  Went to %12 down and has reversed up to %9 percent on a big volume day.
> Bullish?




The fall appears to be from the cascade of stops being triggered at ~$3.65. If that's the only reason then I 'd say bullish. 

But it's also has the making of a trading halt / bad news within the next few days. So size your position accordingly.


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## notting (26 July 2012)

Thanks SKC


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## albaby (23 December 2012)

This from Aus  on the 18th" But the real excitement in Karoon in the weeks ahead will be in its oil exploration program in the Santos Basin off the coast of Brazil. It has been a long time coming and we're about to find out if it has been worth the wait. The first well planned by Karoon, the ever so patriotically named Kangaroo 1, is due to spud-in in the last week of this month.
Outside consultants reckon Kangaroo has "gross mean prospective resource" potential of 272 million barrels of oil. Now as interesting as big gas off the WA coast is, a sizeable find of "black gold" wins hands down every time in grabbing investor attention. Prospects Emu 1 and Bilby 1 are due to follow in Karoon's Santos Basin effort."Al.


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## mr. jeff (25 January 2013)

Coming through with the goods so far and may be worth watching. 
First drill success, 2 more to come. 
Good break up and that is on top a recent decent break up that held. Exciting.


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## Helenr (16 February 2013)

The discovery in the Santos Basin in Brazil Do in Karoon 1 would be the largest oil discovery in the land of the past 15 years. This would be about 1.2 billion barrels. Exciting!!!


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## Knobby22 (17 February 2013)

I prefer to wait and see if the discovery occurs and then watch the price fall back while finance gets arranged before I like buying. Not as profitable but not as risky.


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## albaby (18 February 2013)

Knobby22 said:


> I prefer to wait and see if the discovery occurs and then watch the price fall back while finance gets arranged before I like buying. Not as profitable but not as risky.



Finance already in the bag with their  farmin deal with Pacific Rubiales Energy Corp ,40mil+drilling expenses for35% interest.Al


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## Helenr (18 February 2013)

Major Pacific Rubiales insiders bought in the last few days about 10,000,000 shares of Karoon. This action with the expected size of the discovery reached its maximum in weeks


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## brty (19 February 2013)

HelenR,



> insiders bought in the last few days about 10,000,000 shares of Karoon




Interesting, is the company traded on exchanges other than the ASX? In the last 10 trading days only about 6-7 million shares have traded in total on the ASX in this company.


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## Helenr (19 February 2013)

This company only traded on ASX. The business partner Karoon Gas in Brazil in the well 1 is Pacific Rubiales Karoon and they have said that the find is estimated that 1,200 million barrels this could be the world's largest find in the last 15 years. Pacific Rubiales insiders buying shares of KAR come since September 2012.


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## albaby (19 February 2013)

Helenr said:


> This company only traded on ASX. The business partner Karoon Gas in Brazil in the well 1 is Pacific Rubiales Karoon and they have said that the find is estimated that 1,200 million barrels this could be the world's largest find in the last 15 years. Pacific Rubiales insiders buying shares of KAR come since September 2012.




Helenr,what is  Pacific Rubiales Karoon?Perhaps a link to the scource of  your info?Where did they get 10ml shares?Al


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## Helenr (19 February 2013)

Pacific Rubiales is a Canadian oil company that is associated with Karoon Gas oil in Brazil and found a few days ago.


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## Knobby22 (19 February 2013)

albaby said:


> Finance already in the bag with their  farmin deal with Pacific Rubiales Energy Corp ,40mil+drilling expenses for35% interest.Al




Thanks but I mean finance to develop the resource. Not find it. (If it is there.)


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## albaby (19 February 2013)

Knobby22 said:


> Thanks but I mean finance to develop the resource. Not find it. (If it is there.)



Cheers Knobby,my first thoughts when I read your post were that you might be thinking of an LNG project.When I looked at the cost of an oil rig I see what you mean.Al


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## Helenr (21 February 2013)

> *Karoon Says Peru Assets Drawing Interest From Potential Partners*
> By James Paton - Feb 20, 2013 12:30 AM GMT-0500
> 
> Karoon Gas Australia Ltd., an explorer with oil blocks in South America, said more than 10 companies are interested in becoming a partner to help develop its assets in Peru.
> ...




Full Story: http://www.businessweek.com/news/20...sets-drawing-interest-from-potential-partners


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## Helenr (21 February 2013)

if you read the previous article, the analyst gives a value of $ 10 per share.


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## adds4 (21 February 2013)

things are looking good for kar. Conoco phillips has sold a 20% stake in the browse for an undisclosed amount to petro china. Petro china have billions to spend this yr on aquisitions. Welcome board petro china

http://www.smh.com.au/business/petrochina-buys-conocos-wa-gas-stake-20130221-2esgb.html


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## ftw129 (17 March 2014)

Is anyone still interested in this stock fundamentally? 

I used to like to trade this one up and down but it certainly did my head in! Very volatile... (I don't really trade shares anymore except for hedging but sometimes I just can't help myself with a directional play when the technicals are compelling)

Technically speaking, there is some really good support coming up at $2 and this thing has the potential to jump back up to the $4-7 range very quickly.

Could be fun for some of that spare cash that you're prepared to lose


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## icemanmelb (15 April 2016)

Where's everyone? About $2 in cash backing, this thing is 1.3. Guess the market is pricing in for a nothing company.

Ice


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## Porper (15 April 2016)

icemanmelb said:


> Where's everyone? About $2 in cash backing, this thing is 1.3. Guess the market is pricing in for a nothing company.
> 
> Ice




Some light at the end of the tunnel? Falling wedge/Ending Diagonal Triangle.

Also notice the increase in volume recently...often a precursor to a trend reversal.


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## Tooth Faerie (19 April 2016)

Porper said:


> Some light at the end of the tunnel? Falling wedge/Ending Diagonal Triangle.
> 
> Also notice the increase in volume recently...often a precursor to a trend reversal.




Wow seems to be going pretty well at the moment.


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## tech/a (19 October 2016)

Another one which has flown under the radar.

Up 17% since posted in Charts of interest.
*8/10/16*

https://www.aussiestockforums.com/forums/showthread.php?t=31431&page=2


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## Boggo (24 October 2016)

tech/a said:


> Another one which has flown under the radar.
> 
> Up 17% since posted in Charts of interest.




And it just keeps on keeping on 

(click to expand)


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## Boggo (21 November 2016)

And today's negative news is an example of where you need the tighter trailing stop on the stocks that take off quickly.

KAR currently down about 20% on negative news, three continuous days of selling off last week, usually a heads up.

(click to expand)


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## Cam019 (11 January 2018)

Price has broken out of a descending channel as well as recapturing the 200 SMA. Today, the 50 SMA also crossed the 200 SMA. Potential asymmetrical R:R for a longer term hold.

*18 month daily chart:*






*6 month daily chart:*


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## System (20 December 2018)

On December 20th, 2018, Karoon Gas Australia Limited changed its name to Karoon Energy Limited.


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## greggles (26 July 2019)

Did anyone get aboard KAR before it took off this week?

Yesterday the company announced that its wholly owned subsidiary Karoon Petróleo e Gás Ltda has signed a binding sale and purchase agreement to acquire a 100% interest in the Baúna oil field in the Santos Basin, Brazil for US$665 million.

The company is proposing to fund the acquisition of Baúna with a combination of existing cash, debt, equity and pre-completion cash flows from the acquisition.

The Baúna field consists of two producing oil reservoirs, Baúna and Piracaba, which are currently producing light sweet crude at a rate of approximately 20Mbopd. It has total reserves and contingent resources of ~68 MMbbls and KAR is targeting production growth to an average of ~33 Mbopd during 2022.

Overall, it looks like a pretty solid acquisition that will produce strong stable cashflows over the medium to long term.


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## Skate (26 July 2019)

greggles said:


> Did anyone get aboard KAR before it took off this week?
> 
> Yesterday the company announced that its wholly owned subsidiary Karoon Petróleo e Gás Ltda has signed a binding sale and purchase agreement to acquire a 100% interest in the Baúna oil field in the Santos Basin, Brazil for US$665 million.
> 
> ...




Hi @greggles 

Yep I'm on..

Skate.


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## willoneau (26 July 2019)

My system didn't pick this one, I filter out stocks higher than 0.7 at this stage but if that was removed i would have been in back in March at 1.14 on daily system and only come up as a buy probably at end of today on my weekly. I don't like that thrust bar on high volume on the weekly so would wait and see if it pulls back to 1.20 .


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## peter2 (2 December 2019)

KAR pops up in my scans again and it looks interesting. There was a recent SPP at 0.93 (price touched it) and since then it's looking bullish. The volume since the SPP has been huge and well above average. KAR like most of the oilers, pump and dump quite quickly. I'd be in for a short time, never a long time.


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## Trav. (2 December 2019)

peter2 said:


> KAR like most of the oilers, pump and dump quite quickly




Not a bad pay packet for the institutions who participated in the SPP. Looks like an easy 15% made for a 3 week hold time. assuming that they exited on the 14/11

Will be interesting to watch so see what it has left in the SP tank


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## barney (2 December 2019)

Trav. said:


> Will be interesting to watch so see what it has left in the SP tank




Yeah agree.

They raised $284 million which is not far off half their Market Cap so well supported

Today's price action (Inside day) is looking "normal" for further upside depending on the close of course.

Depending on how keen the Traders are …..  I won't be surprised to see it gap back to $1.12 one day this week.  If it does, as you say @peter2  … probably pay to be nimble thereafter


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## barney (5 December 2019)

barney said:


> Y  I won't be surprised to see it gap back to $1.12 one day this week.




Not sure if its ready to gap, but yesterday's "bar" indicates this is ready to move up again … (if I'm reading it correctly)


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## tech/a (5 December 2019)

barney said:


> Not sure if its ready to gap, but yesterday's "bar" indicates this is ready to move up again … (if I'm reading it correctly)




If you add up total volume from the gap down in October selling far exceeds buying.
So the question is has supply been exhausted.
Yesterdays bar as you point out could indicate that.
Its common for Supply to sell into demand. (Bar before)

You could be right. Something is brewing.
(The 100 pt drop yesterday may have kept
demand away!).


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## barney (5 December 2019)

tech/a said:


> If you add up total volume from the gap down in October selling far exceeds buying.So the question is has supply been exhausted.




Thanks for the input Tech.  

To be honest, this mornings market depth doesn't really support my thoughts just yet so it could just range around for a bit.

I think yesterday's bar indicated a bit of early "mopping up" which I see as positive rather than how the bar looks on face value ….. but that could easily turn out to be a wrong call.

Last Friday's bar will be the eventual acid test as there is resistance around the $1.10 area ….. That's the reason I expect a gap up if/when it does move. 

No doubt it will bomb now and I'll have to wipe the egg off my face … lucky I like eggs


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## Dona Ferentes (21 May 2020)

Not a holder, but ... Stranded ? 


> One frustrated shareholder dumped a line of 15.24 million shares in Thursday afternoon trade, worth about 3 per cent of the company. The trade went through UBS' equities desk and was at 58.25¢ a share, which is about what the stock traded at for most of Wednesday and Thursday. Funds were told it was one institutional investor selling to another. But still, it raised eyebrows.





> It comes as Karoon is trading at a significant discount to its cash backing and the company is under pressure to return cash to shareholders. Karoon had $*504.5 million of cash and no drawn debt at March 31, and about a $320 million market value.*
> 
> Of course much of the cash is to cover its proposed Bauna acquisition in Brazil, although there is doubt about whether the investment case will stack up and the deal will complete given economic and financial market changes.



 AFR


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## Dona Ferentes (13 March 2022)

has pushed through $2 of late .... closing at $2.19 last week ..... probably on back of the surge in oil prices

_Oil producer with exposure to Brazilian oil industry_
•Pure oil producer, benefiting from current strength in oil prices 
•Successfully mitigated decline curve from mature field in first year of operation 
•Production expected to double and opex to nearly halve in early CY2023 from sanctioned Baúna intervention campaign and Patola development 
•Optimising Neon Project with potential alternative development plans 
•Reviewing potential inorganic growth opportunities through disciplined process 
•Strong cash flows from operations 
•Healthy balance sheet, US$334m in liquidity at Dec 2021


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