KAR - Karoon Energy

[Miner]

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.

 

[Miner]

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

 

[Ding]

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?

 

[YELNATS]

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.

 

[YELNATS]

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.

 

[YELNATS]

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.

 

[Knobby22]

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.

 

[awg]

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.

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

 

[YELNATS]

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.

 

[YELNATS]

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.

 

[c-unit]

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

 

[YELNATS]

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

Petróleo 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 Marujá 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 São 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?

 

[StumpyPhantom]

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.

 

[Ken]

any thoughts on Karoon Gas..

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

is it still in play?

 

[notting]

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!

 

[StumpyPhantom]

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?

 

[beatthemarket]

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.

 

[notting]

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.

 

[notting]

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?

 

[skc]

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.