Karoon confirms oil talks in Brazil

ASX-listed Karoon Energy on Thursday confirmed it was in negotiations to potentially acquire a stake in the Atlanta oil field, in the Santos basin, offshore Brazil.

Karoon told shareholders that it had submitted a confidential, conditional, non-binding and incomplete offer to Brazil’s Enauta Energia S.A and has signed an exclusivity agreement to undertake due diligence and enter into confidential negotiations, in connection with potentially acquiring a 50% non-operated interest in the Atlanta oil field.