Karoon Energy: Boom year gets underway

About the author:

Author name:

By Adrian Prendergast

Job title:

Senior Analyst

Date posted:

24 August 2023, 10:00 AM

Sectors Covered:

Mining, Energy

• Karoon Energy's (ASX:KAR) FY24 is shaping up as a bumper year for KAR in terms of CF generation, with increased production, lower unit costs and much lower capex.
• KAR delivered a strong FY23 result ahead of expectations.
• Not rushing into an acquisition demonstrates good capital discipline.
• KAR finished FY23 with cash of US$74.8m and next to no debt.
• We maintain an Add rating, with KAR remaining a top sector preference.

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