KAR

In 2010, I bought my first lot of KAR shares.  the biggest oil discovery this century is in Santos Basin off Brazil.  I also took up more shares in a subsequent SPP.  No oil has been found but oil was expected to be discovered.

After a poor result in NW Shelf of WA, the trend has been downwards.  And even with oil discovery in Brazil, the market was only interested in one dry well in Brazil.  I topped up a small parcel to round up my number of shares early this year when oil was confirmed.  Still, the market was indifferent to good announcements from KAR.  And then early this week, it says the column of oil is not 200m but over 300m.  Now, it is talking about 500m.

Unfortunately, when no oil was found, the share price of KAR was still higher than AFTER oil has been found!