Karoon Energy's (ASX:KAR) potential $75 million share buyback and plans to acquire Altera and Oycan's floating production, storage, and offloading (FPSO) facility in Brazil is expected to boost value and earnings per share, according to a Jan. 31, note by Jarden Research.
If the FPSO acquisition is confirmed at an estimated acquisition price of $200 million, Jarden expects KAR to increase its late-life reserves by 11 million barrels of oil (mmbbl).
The acquisition will also remove a $200 million lease liability and $55 million to $60 million in annual lease costs.
Along with the buy-back, the acquisition will increase fiscal 2026 earnings per share by 13%, Jarden said.
The buy-back and the acquisition will also eliminate the need for other forms of inorganic growth, Jarden added.
Jarden maintained Karoon Energy's buy rating but raised its price target to AU$1.95 from AU$1.90.
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