** Shares of Karoon Energy KAR.AX rise 4.7% to A$1.455

** Stock rose as much as 8.8% to A$1.510 earlier in the day, their highest level since February 12

** Oil and gas explorer's unit Karoon Petróleo & Gás signs a sale and purchase agreement with Altera & Ocyan

** Unit to acquire the Baúna Cidade de Itajaí (CDI) FPSO project in Brazil for $115 million

** Co also announces FY net profit after tax of $127.5 million, up 4% compared to last year

** KAR declares a final dividend of 5 cents per share

** Stock up 4.7% YTD, including current session's moves

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))