BUZZ-Australia's Karoon Energy drops most in 1 month after abandoning exploration well

Reuters

01/20

** Shares of Karoon Energy KAR.AX fall as much as 4.7% to A$1.425

** Stock posts its biggest intraday drop since Dec 18, 2024

** The oil and gas explorer will now plug and abandon its 'Who Dat West' exploration well situated in the U.S. Gulf of Mexico, after confirming absence of significant hydrocarbon bearing intervals

** Stock lost 31.5% in 2024

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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