2004:
June

Listed on Australian Stock Exchange on 8 June 2004 with Initial Public Offering raising A$4.7 million.

2004

Acquired 100% interest in WA Browse Basin exploration permits WA-314-P and 315-P.

2006

Farmed-out a 60% working interest in WA-314-P and WA-315-P to ConocoPhillips. Karoon retained 40%. The farm-out committed ConocoPhillips to fund a major multi well work and seismic program estimated to cost up to US$285 million (gross). (Source: ASX 9 October 2006).

2007

Awarded Browse Basin block WA-398-P (Karoon: 40%).

2007

Awarded 100% in five blocks in the Brazil Santos Basin, in Government bid round.

2008

Farm-in for a 20% working interest in Block Z-38 offshore Peru, increasing to 75% by 2011.

2009-2014:

Participated in six gas discoveries from seven wells in the ConocoPhillips-operated Browse Basin exploration campaign, resulting in the definition of the multi-Tcf Poseidon gas field.

2012

Farmed-in to Carnarvon Basin block WA-482-P (Karoon: 100%).

2012

Farmed out 35% of Santos Basin acreage to Pacific Exploration for US$40 million cash and a carry through a multi-well drilling program of up to US$210 million. (Source: ASX 19 September 2012).

2012-2015

Drilled five wells and one appraisal well in the Brazil Santos basin blocks, with three discoveries, Echidna (Neon) and Kangaroo (Goiá).

2014

Sold a 40% working interest in WA-315-P and WA-398-P, which contained the Poseidon gas field, to Origin Energy for up to US$800 million. (Source: ASX 2 June 2014).

2014

Farmed-out 50% of WA-482-P to Apache Energy (now Santos) for cash and carry equivalent of up to US$66 million of expenditure. (Source: ASX 16 May 2014).

2015

Contingent resource estimates assigned to Echidna (Neon) and Kangaroo (Goiá) in Brazil.

2016

In Brazil, re-acquired Pacific Exploration’s 35% interest in the Santos Basin blocks, taking Karoon’s ownership to 100%. Offshore Australia, awarded 100% of EPP46 in the Ceduna Basin.

2018

Peru: Farm-out of a 35% working interest in Block Z-38 to Tullow Oil plc.

2019

Sale and Purchase Agreement (SPA) signed to acquire 100% of Baúna in Brazil from Petrobras.

2020:
February

Marina#1 exploration well drilled offshore Peru in Block Z-38. Dry hole.

November

Completion of Baúna acquisition, Karoon assumed ownership and operatorship.

2021:
June

Final Investment Decision taken for Patola development.

July

Withdrew from offshore Peru permit Z-38.

September

Withdrew from Ceduna sub-basin permit EPP46.

November

Financial close reached on inaugural US$160 million debt facility, in preparation for Baúna intervention program and Patola development.

2022:
February

Agreement with Shell to buy carbon credits sufficient to offset approximately 60% of FY2021-2029. Scope 1 & 2 emissions from Baúna & Patola, with purchases to be completed annually from 2022. to 2030. Including carbon credits acquired in November 2021, Baúna carbon neutral in FY2021.

April

Commitment made to drill one, possibly two, control wells in the Neon oil field, offshore Brazil, subject to receipt of required environmental approvals, after completion of the Patola field development.

April

Establishment of an additional US$50 million “accordion” facility, taking total debt facility to US$210 million.

May

Commencement of the Baúna well intervention program.

September

Baúna intervention program successfully completed.

November

Two Patola development wells drilled, completion activities commenced.

2023:
January

KAR announced a 23% increase in BM-S-40 2P reserves following successful Baúna intervention program and Patola drilling.

January

Neon-1 control well drilled - refer here.

March

Neon-2 control well drilled - refer here.
Patola-2 Onstream - refer here.
Patola-1 Onstream - refer here.
Unscheduled shut in of Baúna Project due to gas leak in the high-pressure flare system - refer here.

May

Restart of Baúna production - refer here.

July

KAR announced a 9% increase in Neon’s 2C Contingent Resource and Prospective Resources booked for the first time for the Neon West prospect - refer here.

August

2C Contingent Resources recognised in the FY23 Reserves and Resources Statement relating to a potential FPSO life extension project - refer here.

December

Acquired interests in the Who Dat production and exploration assets in the US Gulf of Mexico for US$720 million.

December

Changed the financial year from 1 July – 30 June to 1 January – 31 December.

2024:
April

JV approval to drill Who Dat East appraisal/exploration well and the Who Dat South exploration well – refer here.