Karoon Energy Ltd is an international oil and gas exploration and production company with assets in Brazil and is an ASX listed company. It's niche as the only pure play oil company on the ASX serves it well, allowing it to ride the improving oil prices, without diluting its capital investment into unprofitable sectors.

Investment Summary

Strong balance sheet, with the ability to self fund expansion and exploration. Strong resource at Bauna and Piracaba, with good potential for another project with the Neon oil discovery. Smaller size compared to ASX Stocks such as Woodside Energy and Santos, allows it to be nimbler with its capital and investment decisions.

Current operations:

Focusing its resources on the southern santos basin, offshore Brazil the Bauna oil field comprises two producing oil reservoirs: Bauna and Piracaba, as well as an undeveloped Patola discovery. Both reservoirs are tied back to the leased floating production, storage and off-loading facility Cidade de Itajai.

Exploration has also lead to the Neon oil field, which is being test drilled under the name Echidna before a final investment decision is made.

The Bauna oil field offshore Brazil comprises two producing oil reservoirs: Bauna and Piracaba, as well as an undeveloped Patola discovery. Both reservoirs are tied back to the leased floating production, storage and off-loading facility Cidade de Itajai.

Want to see other interesting ASX Oil and Gas stocks?