Investors cool on Karoon strategy refresh
Karoon Energy shareholders have punctured the optimistic outlook painted by the Brazilian oil pure play’s management at its investor day, sending shares down by almost 3.23 per cent to $1.74.
Recently installed chief executive officer Julian Fowles unfurled a fresh strategy to investors on Thursday, fleshing out plans for its Bauna oil field off the coast of Brazil and nearby wells at Petola. Both projects are set to “more than double production and growth value”.
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