KAR 0.00% $2.16 karoon energy ltd

KAR were reqd to drill a commitment well between 12Aug to...

  1. Ya
    6,809 Posts.
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    KAR were reqd to drill a commitment well between 12Aug to Feb'15, however if they r in the process of farmin out Elvie to interested parties which usually takes a bit of time then they can request an extension to the commitment plans which is good in a way as they should not drill Elvie on a solo basis. Then as a farminee u'd ask the question is it worth our money to chase a 1tcf resource which may or maynot exist. In the south BHP found it the hard way drilling 460m of volcanics at Maginnis & no PLover sands. So an extension to WA314P simply buys them time to chew the fat with any tyre kickers & get on with Brazil & let Apache handle the 1 well planned at 482P (2 nearby wells Wigmore-1 & Delambre-1 had good sands with no HC's, so again its a risk that KAR have farmed out of).
 
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