22 Sept 2025investor presentation● Neutral
Presentation for a Karoon field trip, given by the CEO and team. The visible text is a cover letter and disclaimers, with no new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Sept 2025investor presentation● Neutral
Presentation for investor briefings at the Bank of America Asia Pacific Conference. The visible text is a cover letter and disclaimers, with no new figures.
27 Aug 2025half year report● Neutral
Full 1H25 financial report: sales revenue US$308.3m, underlying profit US$45.0m, statutory profit US$71.0m, operating cash flow US$81.6m, net assets US$996.1m. Largely repeats the results announced the same day.
27 Aug 2025half year report● NeutralMajor
1H25 underlying profit fell 61% to US$45.0m on lower sales volumes and 14% lower realised liquids prices; statutory profit rose 15% to US$71.0m. Interim dividend is 2.4 Australian cents. Neon and Who Dat East are in the Define phase; Neon final investment decision is now targeted for 2H26. Unit cost guidance was cut to US$12-15/boe.
27 Aug 2025half year report● Neutral
Appendix 4D for the half to 30 June 2025: revenue US$308.3m (down 25%), statutory profit US$71.0m (up 15%), underlying profit US$45.0m (down 61%). Interim dividend of 2.4 Australian cents, unfranked, is payable 29 September. Largely repeats the results release.
27 Aug 2025resource reserve update▲ GoodMajor
Baúna 2P reserves rose 13.7 MMbbl to 52.7 MMbbl at 30 June 2025, 35% higher than at year-end, after the FPSO purchase (completed 30 April) and lower declines. Field life extends seven years to 2039. Revitalisation spend is US$55-65m in 2026; an independent audit came within 5%.
27 Aug 2025investor presentation● Neutral
Presentation of the 1H25 results released the same day. The visible text is only disclaimers; it adds no new figures that can be confirmed here.
25 Aug 2025production update● NeutralMajor
The SPS-92 well at Baúna lost one of three power cables to its downhole pump on 13 August, cutting output from about 8,500-9,000 bopd to 2,500-3,000 bopd. Repair needs a rig, not before 2Q26. Even so, 2025 Brazil guidance was raised to 7.3-7.8 MMbbl (total 9.7-10.5 MMboe).
23 July 2025director officer appointment● NeutralMajor
CEO Julian Fowles will leave by mid-2026 after Karoon decided to move key corporate roles from Melbourne to Brazil and the US. He stays until a Houston-based successor is appointed or the end of 2025, then serves a notice period. A global search is under way.
18 June 2025asset acquisition disposition▲ GoodMajor
Karoon won 100% of six Santos Basin blocks in a Brazilian bid round, two containing the Piracucá discovery near Neon. The bid bonus is about US$14.8m, with a US$20.2m minimum work program and no well commitments. 2025 capex guidance rises to US$120-140m.
27 May 2025director officer appointment● Neutral
Appendix 3Y: CEO Julian Fowles was granted 656,583 unlisted performance rights under the 2025 long-term incentive on 22 May. His shareholding of 1,671,389 shares is unchanged. Routine director interest notice.
22 May 2025investor presentation● Neutral
Chair's address and CEO presentation for the 22 May 2025 AGM. Presentation material at the meeting; the excerpt shows only disclaimers and no new figures or announcements.
1 May 2025asset acquisition disposition▲ GoodMajor
Karoon completed the purchase of the Baúna FPSO, Cidade de Itajaí, from Altera & Ocyan for US$115m plus about US$8m of costs, with a final US$85m paid on 30 April. This completes the deal signed on 27 February. A transition services agreement is in place and a new operator tender is due mid-2025.
16 Apr 2025resource reserve update▲ GoodMajor
Neon, 75 km from Baúna, moves into the Define phase, with Contingent Resources raised: 2C up 44% to 86.5 MMbbl. Capex is staged, starting at US$7-10m. A farm-down partner is needed before a final investment decision. First oil is targeted for early 2029.
2 Apr 2025production update▲ Good
The SPS-88 well at Baúna resumed production on 28 March, earlier than expected, after the annual shutdown. Baúna output is about 26,500 bopd. The FPSO purchase is on track to close at end-April. 2025 production guidance is unchanged.
27 Feb 2025other● Neutral
Karoon's 2024 Corporate Governance Statement, approved by the Board on 26 February 2025. It says the company considers itself compliant with the ASX governance recommendations (4th edition). Compliance document with no new financial or operating information.
27 Feb 2025annual report● Neutral
2024 Annual Report: record production of 10.4 MMboe, revenue of US$776.5m and underlying profit of US$214.0m. Net debt was US$8.8m and liquidity US$681.2m. Restoring reliability at Baúna and Who Dat is the stated priority. Largely repeats the results released the same day.
27 Feb 2025asset acquisition disposition▲ GoodMajor
Karoon signed an agreement to buy the Baúna FPSO from Altera & Ocyan for US$115m plus about US$8m of costs, closing by 30 April 2025. It expects to cut unit operating costs by US$4-6/bbl from 2026. It will be funded from cash, with US$30m already in escrow.
27 Feb 2025other● Neutral
Appendix 4G, the checklist pointing to where Karoon's 2024 governance disclosures sit, lodged with the annual report. Administrative filing with no new financial or operating information.
27 Feb 2025half year report● NeutralMajor
2024 underlying profit was US$214.0m, up 3%, but statutory profit fell 39% to US$127.5m, which the release attributes to lower Baúna output, a US$60.9m non-cash tax adjustment and US$15.1m for the dry Who Dat West well. Net debt was US$8.8m. 2025 FPSO efficiency target is 88-92%.
27 Feb 2025dividend declaration▲ Good
Final dividend of 5.0 Australian cents per share, unfranked, for 2024, paid 31 March 2025. Statutory profit was US$127.5m and underlying profit US$214.0m on revenue of US$776.5m.
27 Feb 2025other● Neutral
2024 Sustainability Report. Notes four recordable injuries at Baúna (two lost time) and two process safety gas release events, and a five-year deal with Suzano for 100,000 carbon credits a year. Largely a reporting document with no new financial figures.
31 Jan 2025other● Neutral
The 7 February Strategy Seminar is deferred until the status of the proposed Baúna FPSO acquisition is known. This confirms what the quarterly report said the day before; no new timing was given.
21 Jan 2025other● Neutral
Karoon published its 2025 reporting calendar, including full-year results on 27 February and the AGM on 22 May. It also scheduled a Strategy Seminar for 7 February on a strategy review pending final Board approval.
20 Jan 2025drilling result▼ BadMajor
Who Dat West reached 7,147 m with no significant hydrocarbons and will be plugged and abandoned. This is a dry hole, so the 2024 campaign ends with two of three wells successful (Who Dat East and South). The JV now moves to development studies.
30 Dec 2024drilling spud● NeutralMajor
The Who Dat West exploration well (MC 629-1) spudded 24 December, to about 7,150 m and roughly 50 days. Karoon holds 35%. Pre-drill prospective resource is 77 MMboe gross (21.6 MMboe net), 36% chance of success. This is the third well in the 2024 campaign.
24 Dec 2024production update▲ Good
Baúna restarted late on 22 December after one failed anchor chain was repaired and regulators approved. The second chain is due to be repaired by mid-January. Production is expected to return to about 24,500 bopd. This resolves the 11 December shut-in.
17 Dec 2024production update▼ BadMajor
Baúna was shut in on 11 December after two of the FPSO's sixteen mooring anchor chains failed. Restart is expected the week of 23 December. 2024 guidance cut to 10.1-10.3 MMboe (from 10.5-10.8), with Baúna 7.2-7.4 MMbbl and Who Dat about 2.9 MMboe.
12 Nov 2024investor presentation● Neutral
Presentation for the UBS Australasia Conference investor briefings. Only the cover letter and disclaimers are readable; no new figures or announcements are visible.
31 Oct 2024investor presentation● Neutral
Presentation for a US investor day, including slides from LLOG's chief operating officer. Only the cover letter and disclaimers are readable; no new figures are visible.