AAP NYMEX Oil prices ended last week at the lowest level in nearly two months,
weighed down by a stronger US dollar and persistent doubts about the health of
the global economy. Crude prices have now dropped more than 14 per cent since
cresting at a 15-month high of $US83.18 a barrel
Karoon shares initially fell 32 per cent to a low of $4.51 yesterday as
investors digested the lacklustre results from the much-vaunted Poseidon
discovery, announced by Karoon (40 per cent) and its partner, the US giant
ConocoPhillips (60 per cent), late on Wednesday night. The stock rallied
EXTREME share price volatility was the order of the day for high-flying Karoon
Gas as the market got its first chance to respond to uninspiring results from
the latest test of its Poseidon gas discovery in the Browse Basin off Western
Australia. Karoon shares initially plunged 32 per cent
AAP NYMEX Oil prices ended last week at the lowest level in nearly two months,
weighed down by a stronger US dollar and persistent doubts about the health of
the global economy. Crude prices have now dropped more than 14 per cent since
cresting at a 15-month high of $US83.18 a barrel
