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The latest announcement is out from Karoon Energy Ltd ( (AU:KAR) ).
Karoon Energy Ltd has successfully secured 100% interests in six blocks in the Santos Basin, offshore Brazil, as part of the ANP 5th Permanent Offer Bid Round. This acquisition, which includes the Piracucá discovery and four deepwater blocks, strengthens Karoon’s strategic positioning in the region. The company anticipates formal granting of the blocks by the fourth quarter of 2025, with a bid bonus payment of approximately US$14.8 million and a financial guarantee of US$6.1 million. The acquisition has led to an increase in Karoon’s 2025 capital expenditure guidance to US$120-140 million, reflecting the costs associated with the new blocks and their development potential.
The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.
More about Karoon Energy Ltd
Karoon Energy Ltd is an energy company primarily engaged in the exploration and production of oil and gas, with a focus on offshore projects. The company operates in regions such as the Santos Basin in Brazil, where it seeks to expand its presence and consolidate its market position.
Average Trading Volume: 4,952,633
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$1.5B
For a thorough assessment of KAR stock, go to TipRanks’ Stock Analysis page.