Our history – about us
Karoon energy 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 june 8, 2004 (asx code: kar) with a market capitalization of 4 million australian dollars. 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 by applying its geographical and geotechnical experience to identify value in the acreage. While we retain residual equity interests in the assets as they go into production, we seek to leverage the high equity interests to explore and appraise and then commercialize opportunities. Together with exploration, Karoon seeks to identify available opportunities to acquire production, by using our local knowledge and presence in the potential regions that require the approach of a local specialist.
Karoon currently has assets in australia, brazil and peru and, at present, our major brazilian asset is preparing for appraisal and development. This will be the first time Karoon has reached production and represents a new phase in Karoon’s history.
Karoon’s strong position within the oil and gas industry ensures Karoon is able to consider opportunities to acquire exploration and production assets that add value to shareholders and complement the existing portfolio.
Australia – Karoon has an interesting participation in two basins, browse and carnarvon, which are located approximately 300 to 350 kilometers from the north western australian coastline and cover a combined area of 15,492 square kilometers.
Brazil – Karoon has a working interest in 6 offshore blocks in the santos basin. The blocks are located approximately 200 kilometers from the coastline of the state of santa catarina and cover a combined area of 720 square kilometers.
Peru – Karoon has a working interest in an offshore block in the tumbes basin, as well as a technical appraisal contract which will allow Karoon to enter a second block after the successful exploratory drilling in the primary block in 2020. The blocks are located approximately 10 kilometers from the northwest coast of peru and cover an area of 4,750 square kilometers.