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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