Past year: ▼ 4%(1.46 – 2.19 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Feb 2024annual report● Neutral
Transition-year annual report for the six months to 31 December 2023. It repeats the results already released: 5.5 MMboe production, underlying profit US$144.7m, and the Who Dat acquisition. Peter Botten signs as Chairman. No new substance in the visible text.
29 Feb 2024half year report● Neutral
Appendix 4E for the six months to 31 December 2023: revenue US$412.9m, statutory profit US$122.5m, underlying profit US$144.7m. No dividend was declared. Net tangible assets per share are US$1.02.
29 Feb 2024half year report▲ GoodMajor
Record six-month underlying profit of US$144.7m (up 129% on the prior six months); statutory profit US$122.5m. Unit costs fell 23% to US$11.09/boe. Cash is US$170.4m with US$274.1m debt drawn (gearing 10%). Neon Concept Select decision due next month; guidance unchanged.
2 Feb 2024investor presentation● Neutral
Presentation for the Foster Stockbroking Brazil Resources Conference, with a cover letter. The visible text is disclaimers only; no new information is shown and the rest was truncated.
23 Jan 2024production update▼ BadMajor
Guidance cut: Baúna 2024 output now 7.2-9.0 MMbbl (was 8.0-10.0), after hydrates blocked well SPS-88. A US$5-10m well intervention is assumed in Q4 2024. Total 2024 output 11.2-13.5 MMboe; unit costs US$10.5-15.0/boe. Reserves are not expected to be affected.
18 Jan 2024investor presentation● Neutral
Presentation for a Shaw and Partners network briefing, with a cover letter. The visible text is disclaimers only; no new information is shown and the rest was truncated.
22 Dec 2023asset acquisition disposition▲ GoodMajor
Karoon completed the Who Dat acquisition on 21 December, paying US$684m at closing (US$720m price less US$36m deposit). Funded by a US$274m draw on a new US$340m debt facility, US$312m of equity and cash. It has received the economic benefit since 1 October 2023.
14 Dec 2023other● Neutral
Text not readable. Only bullet characters appear; the title suggests a successful bid for blocks in the Santos Basin (Brazil), but no details are given.
11 Dec 2023capital raising announcement● NeutralMajor
Retail entitlement offer closed with about 22% take-up, raising roughly A$94m including sub-underwriters' shares. About 36m unwanted shares (~A$74m) go to sub-underwriters. Total raising is about A$480m at A$2.05, completing the fully underwritten funding for the Who Dat acquisition.
27 Nov 2023investor presentation● Neutral
Presentation for a Macquarie UK roadshow, with a cover letter. The visible text is disclaimers only, noting guidance for calendar 2024 is uncertain. No new information is shown; the rest was truncated.
23 Nov 2023capital raising announcement● Neutral
Sample letter telling ineligible retail shareholders they cannot join the retail entitlement offer at A$2.05. Administrative notice with no new information.
23 Nov 2023other● Neutral
2023 AGM address and CEO presentation. The Chairman recaps FY23 (production up 52%, net cash US$45m) and the Who Dat acquisition announced last week. Mostly repeats known facts.
23 Nov 2023capital raising announcement● Neutral
The retail part of the 1 for 3.75 entitlement offer opens at A$2.05 per share to raise about A$310m overall for the entitlement offer, closing 6 December 2023. Shareholders who do not take up their entitlement are diluted. Booklet only; no new terms.
17 Nov 2023capital raising announcement● NeutralMajor
The placement and institutional entitlement offer raised about A$384m at A$2.05 per share (A$170m placement, A$214m institutional), a 14.6% discount to the last close. About 95% of institutional entitlements were taken up. The retail offer opens 23 November to complete the A$480m raising.
16 Nov 2023asset acquisition disposition▲ GoodMajor
Karoon will buy a 30% interest in the Who Dat and Dome Patrol fields in the US Gulf of Mexico from LLOG for US$720m, its entry into the region. Funding is US$171m cash, US$274m debt and a fully underwritten A$480m equity raise. It lifts CY24 production 57-63% and 2P reserves 75%.
16 Nov 2023investor presentation● Neutral
Investor presentation supporting the US Gulf of Mexico acquisition and equity raising announced the same day. The visible text is legal disclaimers only; the rest was truncated, with no new figures beyond the main release.
15 Nov 2023other● Neutral
ASX paused trading in Karoon shares pending a further announcement. No reason is given in the text; the pause precedes the 16 November acquisition and equity raising (inference).
2 Nov 2023regulatory community update● Neutral
ASIC has excused Karoon from preparing a half-year report for the six-month transitional year to 31 December 2023. The full report will be lodged 29 February 2024 and the AGM held 25 May 2024. This is administrative, following the July year-end change.
25 Sept 2023investor presentation● Neutral
Presentation for a Brazil field trip, with a cover letter. The visible text is disclaimers only, and no new information is shown; the rest was truncated.
12 Sept 2023investor presentation● Neutral
Presentation for a Macquarie non-deal roadshow, with a cover letter. The visible text is disclaimers only, with guidance to 30 June 2024 flagged as uncertain. No new information is shown; the rest was truncated.
5 Sept 2023investor presentation● Neutral
Presentation for the Euroz Hartleys Energy Forum, with a cover letter. The visible text is disclaimers only; no new information is shown and the rest was truncated.
23 Aug 2023annual report▲ GoodMajor
Appendix 4E: FY23 revenue rose 47% to US$566.5m and net profit after tax was US$163.0m, against a US$64.4m loss in FY22. Underlying profit was US$145.9m, up 70%. No dividend was declared or paid.
23 Aug 2023half year report● Neutral
Cover letter for the FY23 full year results release and investor presentation. The visible text contains no figures or new information; the attached contents are not shown.
23 Aug 2023regulatory community update● Neutral
The 2023 Sustainability Report covers FY23 safety, climate and community work. It records a recordable injury rate of 0.41 and Scope 1 and 2 emissions of 142,074 tCO2e. It restates the carbon neutral and 2035 net zero targets, with no new financial information.
23 Aug 2023other● Neutral
Appendix 4G, the key to the corporate governance disclosures for the year to 30 June 2023. It is an administrative filing with no new information.
23 Aug 2023annual report▲ Good
The 2023 Annual Report covers FY23: production up 52% to 7.04 MMbbl, completed Baúna and Patola projects on budget, and cash of US$74.8m with US$30m of the US$210m facility drawn. It says the balance sheet is positioned for growth and shareholder returns.
23 Aug 2023other● Neutral
The 2023 Corporate Governance Statement, approved 22 August 2023, says Karoon complies with the ASX governance recommendations (4th edition). It is an administrative compliance document.
10 July 2023resource reserve update▲ GoodMajor
Control wells lifted Neon's 2C contingent resource 9% to 60.1 MMbbl (1C up 26% to 37.7, 3C down 3% to 89.5). Neon West is assessed at 14.8 MMbbl prospective (2U). A Concept Select decision is targeted for end 1QCY24.
10 July 2023other● Neutral
Karoon will move its financial year end from 30 June to 31 December, to align with Brazil's tax year. A six-month transitional year runs 1 July to 31 December 2023, with an annual report due by March 2024 and an AGM in May 2024.
19 June 2023production update▼ BadMajor
Baúna has averaged about 33,000 bopd since the 9 May restart and should stabilise at 33,000-35,000 bopd by 1QFY24. The July maintenance shutdown is deferred to 3QFY24. FY23 production guidance is cut to 7.0-7.1 MMbbl from 7.0-7.7, and export tax guidance to US$15-19m.
