KAR - Karoon Energy

[notting]

Thanks SKC

 

[albaby]

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.

 

[mr. jeff]

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.

 

[Helenr]

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!!!

 

[Knobby22]

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.

 

[albaby]

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

 

[Helenr]

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

 

[brty]

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.

 

[Helenr]

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.

 

[albaby]

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

 

[Helenr]

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

 

[Knobby22]

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.)

 

[albaby]

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

 

[Helenr]

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.

The company plans to offer about 30 percent of the Peru prospects and is starting to give potential bidders access to the data, Executive Chairman Robert Hosking said yesterday in an interview in Melbourne. Karoon also hired Rob Singh from Schlumberger Ltd. unit IndigoPool, an adviser to oil and gas companies, to help with planned transactions to bring in partners in South America and Western Australia, Hosking said.

“We’ve got a lot of interest,” Hosking said, without naming any companies. “There’s a healthy appetite.”

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

 

[Helenr]

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

 

[adds4]

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

 

[ftw129]

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

 

[icemanmelb]

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

Ice

 

[Porper]

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.

 

[Tooth Faerie]

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.