Australian Shares News Karoon Gas KAR|ASX KAR StocksKaroon Gas Australia (ASX:KAR) is focused on identifying, exploring and developing acreage that is highly prospective for oil and gas.

The company currently has three focus areas – the Browse Basin (Western Australia), Tumbes Basin (Peru) and the Santos Basin (Brazil).

KAR holds a 49% interest in oil and gas exploration permits WA-314-P and WA-315-P in the offshore Browse Basin located 350 km offshore from the North-Western Australian coastline.

The company’s joint venture partner and operator in these projects is ConocoPhillips, the world’s fifth-largest refiner.

Gas gas gas

KAR was one of the best performers of the day, rallying over 6% after receiving environmental approvals to start drilling on its Browse Basin projects.

The company will move on to phase two of its drilling program in the region.

The program will start in the fourth quarter of the year and run for 18 months to two years.

Click for Daily Trading Recommendations


   Written by: admin   Other posts from: admin
7 day free trial
 



asx-share-price

To start your Free 7 day trial please complete your details below

* required fields

IMPORTANT: an activation code will be sent via SMS, please enter your preferred mobile number



Disclaimer: The content of this blog does not constitute a recommendation nor does it take into account your investment objectives, financial situation nor particular needs. Before acquiring or using any of Australian Stock Report's products, you should obtain and consider our Financial Services Guide. Australian Stock Report Ltd (ACN 106 863 978) is licensed as an Australian Financial Services Licensee pursuant to section 913B of the Corporations Act 2001. AFS Licence 301682. Any content within this email remains the property of Australian Stock Report and should not be reproduced without the consent of Australian Stock Report
RSS Feed