{"id":52579,"date":"2014-06-11T02:58:39","date_gmt":"2014-06-11T06:58:39","guid":{"rendered":"http:\/\/countingpips.com\/?p=52579"},"modified":"2014-06-11T02:58:39","modified_gmt":"2014-06-11T06:58:39","slug":"why-the-karoon-share-price-fell-today","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/06\/why-the-karoon-share-price-fell-today\/","title":{"rendered":"Why the Karoon Share Price Fell Today"},"content":{"rendered":"
June 11, 2014<\/div>
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By MoneyMorning.com.au<\/u><\/a><\/p>\n

What Happened to the Karoon Gas Share Price?<\/h2>\n

Shares of Karoon Gas Australia [ASX:KAR]<\/strong> fell by 3.19% on Wednesday, closing at $3.34. <\/p>\n

Why Did This Happen to the Karoon Gas Share Price?<\/h2>\n

After shooting up more than 50%, Karoon Gas Australia shares are going through a normal cooling down period.<\/p>\n

Karoon announced that it sold two of its Browse Basin permits (WA-315P & WA398-P) to Origin Energy for roughly $800 million. <\/p>\n

With the company previously lacking funding and balance sheet flexibility, this transaction provides significant value to shareholders. <\/p>\n

The transaction combines with the recently announced Carnarvon Basin farm-out by Karoon to Apache. Both transactions represent up to one billion dollars of value for Karoon in up front, carry and future payments. <\/p>

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What Now For Karoon Gas Australia?<\/h2>\n

Karoon\u2019s strategy and vision have never been clearer.<\/p>\n

Karoon\u2019s balance sheet is significantly stronger following these recent transactions. The company is now in a solid position to explore and develop its assets of which many, have significant geological potential.<\/p>\n

Over the past four quarters, Karoon has averaged an operating cash burn of roughly $115 million. <\/p>\n

As such, the recent transactions should leave Karoon with more than sufficient funds to pursue its aggressive exploration program over the next year. This is great news for shareholders.<\/p>\n

Karoon has an exciting 12 months ahead with exploration drilling in Brazil and the Carnarvon Basin. <\/p>\n

The share price needs to run through the $3.50 resistance level to rally. <\/p>\n

Jason Stevenson+<\/a>
\n Resources Analyst, Diggers and Drillers<\/em><\/strong><\/p>\n<\/p>\n

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\nBy MoneyMorning.com.au<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By MoneyMorning.com.au What Happened to the Karoon Gas Share Price? Shares of Karoon Gas Australia [ASX:KAR] fell by 3.19% on Wednesday, closing at $3.34. Why Did This Happen to the Karoon Gas Share Price? After shooting up more than 50%, Karoon Gas Australia shares are going through a normal cooling down period. Karoon announced that […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-52579","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/52579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=52579"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/52579\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=52579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=52579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=52579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}