Your thoughts on KAR please
Hi Team, What is your current view on Karoon Energy? Thank you
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Answer
Feng,
In early March Karoon Energy (KAR) announced a $US22-35m tax hit on the back of Brazil’s new crude oil export tax. Once taxes are in place it becomes very difficult to remove them hence we see Karoon (KAR) as a risk not worth taking here seeing better risk reward in other stocks in the sector. Overall its been trading around $2 since early 2022 hence if we had to label the stock it would be neutral.
