KAR 0.00% $2.16 karoon energy ltd

NET CASH?, page-27

  1. 362 Posts.
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    I’ve been in this a long time, never posted on it - there is an absolute tonne of PE cash sitting on the sidelines...KAR has all the hallmarks of a turnaround play they’d be interested in. Cash backed, poor management that they can turn around with their own expertise/merge with other operations, reasonably open registry and board doesn’t own enough stock to use as leverage against a play for the company.

    Would be buying at an apparently low in oil/gas prices so they’d have the optionality of buying at the bottom of the cycle and flipping out higher when prices recover.

    Add to the fact that the SP is depressed as long only’s exit to reduce equities shareholding’s post COVID, so buying at super cheap levels.

    Its a super low risk acquisition because they are cash backed ~30% higher.

    Anyway just my thoughts...I know it’s been a dog for a long time but the COVID shakeup will have PE licking their chops looking for bargain deals to snap up.
 
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