Listed on Australian Stock Exchange on 8 June 2004 with Initial Public Offering raising A$4.7 million.
Acquired 100% interest in WA Browse Basin exploration permits WA-314-P and 315-P.
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).
Awarded Browse Basin block WA-398-P (Karoon: 40%).
Awarded 100% in five blocks in the Brazil Santos Basin, in Government bid round.
Farm-in for a 20% working interest in Block Z-38 offshore Peru, increasing to 75% by 2011.
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.
Farmed-in to Carnarvon Basin block WA-482-P (Karoon: 100%).
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).
Drilled five wells and one appraisal well in the Brazil Santos basin blocks, with three discoveries, Echidna (Neon) and Kangaroo (Goiá).
Sold a 40% working interest in WA-314-P, WA-315-P and WA-398-P, which contained the Poseidon gas field, to Origin Energy for up to US$800 million. (Source: ASX 8 December 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).
Contingent resource estimates assigned to Echidna (Neon) and Kangaroo (Goiá) in Brazil.
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.
Peru: Farm-out of a 35% working interest in Block Z-38 to Tullow Oil plc.
Sale and Purchase Agreement (SPA) signed to acquire 100% of Baúna in Brazil from Petrobras.
Marina#1 exploration well drilled offshore Peru in Block Z-38. Dry hole.
Completion of Baúna acquisition, Karoon assumed ownership and operatorship.
Final Investment Decision taken for Patola development.
Withdrew from offshore Peru permit Z-38.
Withdrew from Ceduna sub-basin permit EPP46.
Financial close reached on inaugural US$160 million debt facility, in preparation for Baúna intervention program and Patola development.
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.
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.
Establishment of an additional US$50 million “accordion” facility, taking total debt facility to US$210 million.
Commencement of the Baúna well intervention program.
Baúna intervention program successfully completed
Two Patola development wells drilled, completion activities commenced
KAR announced a 23% increase in BM-S-40 2P reserves following successful Baúna intervention program and Patola drilling
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