Karoon Energy Ltd (KAR) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Karun 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. If you wish to ask a question via the phones, you will need to press the star key followed by the number one on your telephone keypad. If you would like to ask a question via the webcast, please enter it into the ask a question box and click submit. I would now like to hand the conference over to Mr. Julian Fowles, CEO and Managing Director. Please go ahead. Yes, good morning, everyone, and welcome to Karun Energy's FY23 results webcast. My name is Julian Fowles, and I'm the CEO at Karun, and I have with me this morning Ray Church, our CFO, and Anne Diamond, our head of IR. Earlier this morning, we released our FY23 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 two, I'll start with the highlights on slide four. FY23 was a year focused on executing the strategy we had developed for Karun's growth. Operationally, this was about growing profitability through growth in production from the intervention in patola programs, while also evaluating the potential for a neon project at the same time as building capabilities within the company. The result was that we achieved substantially higher production, which increased by over 50%, and we had costs at the lower end of our range. Importantly, we also delivered the program safely, improving on our FY22 lost time incident rate and our to...