Past year: ▼ 4%(1.46 – 2.19 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Sept 2026regulatory community update▼ Bad
The ABEP injunction against the 12% Brazilian export tax was lifted on appeal on 1 September. Karoon will provide for and pay the tax, and favour destinations with concessional rates. This reverses the previous day's interim relief.
1 Sept 2026regulatory community update● Neutral
Brazil announced a further 60-day extension of the 12% export tax, expected to expire on 7 November 2026. An ABEP industry injunction suspended payment on future exports but is interim and could be reversed, so Karoon will still recognise the tax expense and liability. The injunction does not allow immediate recovery of amounts already paid.
27 Aug 2026half year report● Neutral
Full 1H26 financial report: reported NPAT US$26.7m versus US$71.0m a year earlier, revenue US$244.9m and net assets US$1,023.8m. Repeats the results announced the same day; no new events in the readable text.
27 Aug 2026investor presentation● Neutral
Half-year results presentation; only the disclaimer text was readable, and it repeats the results announcement from the same day. No new information is evident from the supplied text.
27 Aug 2026half year report● Neutral
1H26 revenue US$244.9m and underlying NPAT US$29.2m, both down, as Baúna work and the Who Dat riser issue cut output. Net debt rose to US$269.7m. A1.2 cent dividend declared; 13.3% of shares bought back since 2024; Neon FEED decision expected 4Q26.
27 Aug 2026director officer appointment▲ Good
John Mingé, a US-based former Chairman and President of BP America (2013-2018), joins as independent non-executive director from 27 August 2026. This looks like the US-resident director the board had been seeking; he holds no shares.
27 Aug 2026half year report▼ Bad
Appendix 4D for 1H26: revenue US$244.9m (down 21%), NPAT US$26.7m (down 62%), underlying NPAT US$29.2m. Interim dividend is A1.2 cents, payable 30 September 2026.
12 Aug 2026material agreement▲ GoodMajor
Who Dat East was sanctioned on 12 August: a one-well development with first production in 2H28 at about 5,900 boepd NRI. Net cost to Karoon (40%) is US$155-165m, with US$15-20m in 2H26, and mid-case IRR above 20%. Resolves the pending FID.
13 July 2026production update▲ GoodMajor
Baúna's PRA-2 well restarted on 6 July after the umbilical disconnected in October 2025, producing 1,000-1,200 bopd. All Baúna wells are now on, taking the field to about 22,000 bopd, completing the restoration flagged in June.
10 July 2026regulatory community update▼ Bad
Brazil extended its temporary 12% (7.92% after tax) crude export tax by 60 days; it was due to expire 9 July 2026. Industry is pursuing legal challenges and refunds. EU-bound cargoes should qualify for a 6% (3.97% after tax) rate.
29 June 2026production update● NeutralMajor
SPS-92 at Baúna is back producing 8,600 bopd, lifting the project to about 20,500 bopd, with 1,000-2,000 bopd more expected when PRA-2 returns. Intervention cost more than expected, so 2026 capex guidance rises to US$178-202m from US$150-183m.
16 June 2026production update▼ BadMajor
Who Dat operator LLOG says production through the E manifold will not return in 2026, now expected in 2H27 after the failed riser is removed. Karoon cuts 2026 production guidance to 7.2-8.2 MMboe from 8.1-9.2, contradicting the earlier plan to restore 55-75% of curtailed output by mid-year.
29 May 2026asset acquisition disposition▲ GoodMajor
Operatorship of the Baúna FPSO passed from Altera & Ocyan to Karoon on 27 May 2026, completing the step that followed Karoon's April 2025 purchase of the vessel. Over 80% of the existing crew transferred. The transitional services agreement ends 1 June 2026, which the company says will further optimise operating costs.
25 May 2026investor presentation● Neutral
Presentation for an Asian investor roadshow by the CEO. Only the disclaimer text was readable; no new information is evident from the supplied text.
21 May 2026other● Neutral
AGM address: Chair Peter Botten notes 2025 total shareholder return of 16% and about 12% of shares bought back since 2024, with the buyback set to continue. Baúna FPSO operatorship transfer from Altera & Ocyan is expected on 1 June. Net debt US$181m at end-March.
18 May 2026production update▲ Good
Baúna resumed production on 13 May after a planned 28-day shutdown, completed on time and expected within budget, now producing about 11,500 bopd. A further 9,000-10,000 bopd is expected around mid-year once the SPS-92 pump is replaced and the PRA-2 umbilical reconnected in early 3Q26.
6 May 2026investor presentation● Neutral
Presentation by the CEO at the Macquarie Australia Conference. Only the disclaimer text was readable; no new information is evident from the supplied text.
20 Apr 2026other▼ Bad
Fitch affirmed Karoon's 'B' credit rating and 'B+' on the US$350m notes but moved the outlook to Negative from Stable. Fitch cited risks to production sustainability and project timing after the Baúna and Who Dat disruptions. Karoon says funding position is unaffected.
30 Mar 2026director officer appointment● Neutral
Non-executive director Tadeu Fraga, on the board since 2022, stands down for personal and family reasons. Fernando Borges, a former Petrobras exploration and production chief, joins as independent director and stands for election at the 21 May 2026 AGM. The board is also considering another US-resident director.
23 Mar 2026director officer appointment● NeutralMajor
Eric Williams becomes CFO from 23 March 2026, succeeding Ray Church, and Mark Mick becomes Chief Commercial and Technical Officer. Both are Houston-based. Church stays until September 2026; Roland Hamp keeps the Baúna operatorship transition until 30 June 2026.
13 Mar 2026regulatory community update▼ BadMajor
Brazil announced a 12% tax on oil export volumes from 12 March 2026, framed as windfall profit sharing and expected to be tax-deductible. It lapses after 120 days unless Congress ratifies it. It could hit Baúna export revenue, though no dollar impact is given.
26 Feb 2026annual report● Neutral
Full 2025 Annual Report: production 10.3 MMboe, revenue US$628.6m, underlying profit US$107.5m, liquidity US$546.1m. The FPSO purchase is presented as the key step of the year. Largely repeats the results released the same day.
26 Feb 2026annual report● Neutral
2025 Sustainability Report, including climate disclosures under the new Australian standard. Routine compliance report with no new financial or operating information.
26 Feb 2026annual report● Neutral
2025 underlying profit halved to US$107.5m on lower oil prices and one fewer Baúna cargo; net debt US$143.9m, liquidity US$546.1m. Final dividend 3.1 cents, taking 2025 dividends to 5.5 cents. Buyback continues at a moderated level; 2026 guidance unchanged.
26 Feb 2026annual report● Neutral
2025 Corporate Governance Statement, with the company stating it complies with the ASX governance recommendations. Routine compliance document with no new business information.
26 Feb 2026annual report● Neutral
Appendix 4G, the standard checklist pointing to the governance statement for the year to 31 December 2025. Administrative filing with no substance.
26 Feb 2026annual report● Neutral
Appendix 4E for 2025: revenue US$628.6m (down 19%), statutory profit US$125.5m (down 2%), underlying profit US$107.5m (down 50%). Final dividend of 3.1 Australian cents, fully franked, to be paid 31 March 2026.
9 Jan 2026other● Neutral
Administrative calendar of 2026 reporting dates: full-year results 26 February, AGM 21 May, half-year results 27 August. No new business information.
30 Oct 2025director officer appointment● NeutralMajor
Carri Lockhart, formerly of Equinor and Marathon Oil, becomes Managing Director and CEO from 3 November 2025, succeeding Julian Fowles, whose resignation was announced 23 July 2025. The change comes as Karoon prepares to take over operating the Baúna FPSO.
7 Oct 2025production update▼ BadMajor
The PRA-2 well at Baúna shut in on 20 September when its control umbilical disconnected; repairs are expected by mid-2026. Baúna now produces about 19,700 bopd. 2025 guidance of 9.7-10.5 MMboe is unchanged, and the Who Dat E6 sidetrack is about to start.
