Karoon Gas Australia Ltd (Karoon) is a global oil and gas exploration company headquartered in Melbourne, Australia, with country offices in Brazil and Peru.
Karoon was listed on the Australian Securities Exchange (‘ASX’) on 8th June 2004 (ASX code: KAR) with a market capitalisation of A$4 million. Today, Karoon ranks as one of the Top 10 ASX listed oil and gas companies by market capitalisation and is a member of the S&P/ASX 200 Index (admitted in 2008). Since listing, Karoon has acquired a global portfolio of oil and gas exploration assets.
Karoon typically looks for high equity interests in early stage exploration opportunities containing large potential targets in basins with proven Petroleum Systems. Karoon strives to create shareholder value through the geotechnical work-up of the acreage, leveraging its high equity interests to explore and appraise these opportunities.
While the company’s core strategy is identifying off-shore early stage exploration opportunities, Karoon’s longer-term strategy is to retain residual equity interests in the assets as they go into production.
Karoon’s projects are in 3 key geographies, Australia, Brazil and Peru: