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Karoon Gas Australia

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Karoon Gas Australia - Coal Seam Gas

Karoon Gas Australia - ASX code KAR

Karoon Gas Australia Ltd (Karoon Gas) is an Australia-based exploration company engaged in the hydrocarbon exploration and evaluation in Australia, Brazil and Peru.
Australia: exploration and evaluation of hydrocarbons in four offshore permit areas: WA-314-P, WA-315-P, WA-398-P and WA-482-P;
Brazil: exploration and evaluation of hydrocarbons in five offshore blocks including Block S-M-1037, Block S-M-1101, Block S-M-1102, Block S-M-1165 and Block S-M-1166.
Peru: exploration segment is involved in the exploration and evaluation of hydrocarbons in two blocks in Peru, including Block 144 (onshore) and Block Z-38 (offshore).
Karoon Gas Australia Ltd.
Office 7A
34-38 Lochiel Avenue
Mount Martha, VIC 3934
Phone: 61 3 5974 1044
Fax: 61 3 5974 1644
Mr. Robert Michael Hosking Executive Chairman, Chief Executive Officer and Managing Director
Mr. Scott Hosking B. Commerce,
Group Chief Financial Officer and Company Sec. 351.00K
Mr. Edward Munks B.Busfcpa,Maicd,
Chief Operating Officer 498.00K
Mr. Timothy Hosking Chief Executive Officer of Brazil and General Manager of South American 423.00K
Mr. Mark Alexander Smith Dip. App. Geol., Bsc. (Geology), Exploration Director and Executive Director
Lino Barro Engineering Manager
Jose Coutinho Barbosa Non-Executive Director
Stephen Power Non-Independent Non-Executive Director
Geoff Atkins Non-Executive Independent Director
Clark Davey Non-Executive Independent Director

According to Macroaxis, the company has return on total asset (ROA) of (1.09) % which means that it has lost $1.09 on every $100 spent on asset. This is way below average. Similarly, it shows return on equity (ROE) of (1.82) % meaning that it generated substantial loss on money invested by shareholders.

The Kimberley
Woodside and Inpex are both in the advanced stages of planning LNG plants, Karoon Gas/ConocoPhillips and Shell are planning exploration drilling, and a number of other companies have exploration permits in the Browse Basin.

Search the ASX website for company announcements from KAR

April 08, 2013 - Karoon currently holds 100% of the operated Santos Basin Blocks; however, it has completed agreements with Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) to divest a 35% net working interest in the Santos Basin Exploration Blocks, S-M-1101, S-M-1102, S-M-1037 and S-M-1165.
This working interest in the Blocks is subject to the completion of farm in commitments and the approval of the Agencia Nacional do Petroleo ('ANP'). Pacific Rubiales also has an option to acquire a 35% interest in the S-M-1166 block,subject to meeting the farmin requirements and ANP regulatory approval being granted.
Karoon is currently the operator of the S-M-1101, S-M-1102, S-M-1037, S-M-1165 and S-M-1166 blocks.
At the completion of the three well exploration program, Pacific Rubiales will be entitled to request the operatorship of those Blocks it has been granted a working interest in, operatorship will be subject to the approval of the regulatory approval of the ANP.

KAR 5 year chart, dated 18 November 2013.


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