Karoon Gas Australia Ltd Right to negotiate a final agreement with Petrobras
Right to negotiate a final agreement with Petrobras: Karoon Gas Australia Ltd (ASX: KAR) stock rose over 9.7% on March 31, 2017. This rise followed a slip witnessed in stock prices on March 30, 2017 as the group revealed that it got the right to negotiate a final agreement with Petróleo Brasileiro S.A. (Petrobras), on the potential sale of an interest in the Baúna and Tartaruga Verde oil fields. Petrobras notified Karoon that the process relating to the sale of Baúna and Tartaruga Verde has been withdrawn at the moment and the same will be reinitiated adhering to Petrobras’s revised divestment process.Meanwhile, the group reported that they would engage any potential partners and is committed to any future process relating to these assets.
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