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Investors cool on Karoon strategy refresh

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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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Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office. Connect with Elouise on Twitter. Email Elouise at elouise.fowler@afr.com.au

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    Original URL: https://www.afr.com/companies/energy/investors-cool-on-karoon-strategy-refresh-20211028-p593yd