Karoon Gas Australia Ltd. - Shareholder/Analyst Call

Karoon Gas Australia Ltd. is looking to raise funds. Karoon Gas’ Chief Operating Officer, Edward Munks said, “There's a lot of funding options open to us. Having a discovered resource with high equity levels gives you a lot of flexibility.” Karoon Gas may whip up funding through an initial public offering (IPO) of the group's South American assets, which include some untapped oil prospects off the coast of Peru. Munks said that it's unlikely Karoon will revisit the IPO option, though he's not ruling it out.

Karoon Gas Australia Ltd. announced unaudited consolidated earnings results for the half year ended December 31, 2012. For the period, the company reported revenue of AUD 4,230,742 against AUD 7,982,405 a year ago. Loss before income tax was AUD 8,697,796 against profit before income tax of AUD 2,689,108 a year ago. Loss for financial year attributable to equity holders of the company was AUD 8,697,796 or AUD 0.0393 per basic and diluted share against profit for financial year attributable to equity holders of the company of AUD 2,689,108 or AUD 0.0121 per basic and diluted share a year ago. Net cash flows used in operating activities was AUD 2,906,531 against net cash flows provided by operating activities of AUD 5,678,077 a year ago. Purchase of plant and equipment and computer software was AUD 354,470 against AUD 792,642 a year ago. Payments for exploration and evaluation expenditure capitalised were AUD 71,821,337 against AUD 21,165,573 a year ago.