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Karoon Energy Ltd ( (AU:KAR) ) has issued an announcement.
Karoon Energy Ltd announced that its Who Dat West exploration well has reached its total depth of 7,147 meters, but no significant hydrocarbons were found, leading to the well being plugged and abandoned. However, the drilling campaign, which included successful discoveries in Who Dat East and South, has been completed, and the joint venture will explore potential development options for these discoveries, with Karoon holding a 35% interest in the lease.
More about Karoon Energy Ltd
Karoon Energy Ltd is an energy company specializing in the exploration and production of oil and gas resources. The company focuses on offshore oil and gas assets, with operations primarily in Brazil, Australia, and Peru.
YTD Price Performance: 4.48%
Average Trading Volume: 3,202
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $706.6M
Find detailed analytics on KAR stock on TipRanks’ Stock Analysis page.
