Karoon Energy Ltd (KRNGF) Q4 2023 Earnings Call Transcript


Karoon Energy Ltd (OTCPK:KRNGF) Q4 2023 Earnings Conference Call August 22, 2023 8:01 PM ET

Company Participants

Ann Diamant – Senior VP of Communications and Investor Relations

Julian Fowles – MD and Chief Executive Officer

Raymond Church – Vice President and CFO

Conference Call Participants

Gordon Ramsay – RBC Capital Markets

Adam Martin – E&P Financial

Sarah Kerr – Morgan Stanley

Nik Burns – Jarden Australia

Henry Meyer – Goldman Sachs

Adrian Prendergast – Morgan Financial

Operator

Thank you for standing by and welcome to the Karoon Energy 2023 Full Year Results Call. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to Mr. Julian Fowles, CEO and Managing Director. Please go ahead.

Julian Fowles

Yes good morning everyone and welcome to Karoon Energy’s FY 2023 results webcast. My name is Julian Fowles and I’m the CEO of Karoon and I have with me this morning Ray Church our CFO and Ann Diamant our Head of IR.

Earlier this morning, we release our FY 2023 results, our annual report and this presentation to the market which we are now going to talk through. I’ll focus on a number of key slides rather than go through every single slide in detail, given quite a bit of the information was already released to the market with the Q4 results announcement last month.

Noting the disclaimer on Slide 2, I’ll start with the highlights on Slide 4. FY ’23 was a year focused on executing the strategy we had developed for Karoon’s growth. Operationally, this was about growing profitability through growth in production from the intervention of the Patola programs, while also evaluating the potential for our Neon project at the same time as building capabilities within the company. The result



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