STTCOMP KAR, FA Long Karoon Gas Oil explorer in Brazil,...

STTCOMP KAR, FA Long​

Karoon Gas
Oil explorer in Brazil, Australia and Peru
Share price: 1.175
Market capital: 289 million
Cash: 334 million (as of 31 December 2017)
No debt

The main project is located in Brazil (Santos Basin). It now owns 100 per cent of the resources below (bought back the 35% interest from the bankrupt partner)

Karoon is looking to purchase an oil producing asset with a startegic partner (DEA Deutsche Erdoel AG). Karoon is also planning to farm out its Echidna and Kangaroo. Farm out, which will provide cash and lower risks, is more attractive with a higher oil price.

Karoon has a negative EV and can potentially produce oil within the next two years from its existing resources (sooner if it purchases an oil producing asset).