Highlights

• Karoon bought 33,000 shares on 22 September, but its stock was trading 2.2% lower.
• The latest purchase cost AU$59,389.44, taking reported buybacks to 13,254,112 shares.
• With no fixed purchase target, the pace of future buying remains uncertain.

Karoon Energy Limited (ASX: KAR) was trading at AU$1.765, down 2.2%, following its latest on-market buyback update on 23 September 2026. The energy company continued purchasing its own shares on the previous trading day, yet the lower market price leaves investors watching whether further buying will make a visible difference to the stock.

Latest Purchase Adds to Total

Karoon acquired 33,000 ordinary shares on 22 September for AU$59,389.44. It paid between AU$1.785 and AU$1.810 per share. These are the prices paid for the buyback transactions, while AU$1.765 is the market price supplied for this article.

Before that session, Karoon had repurchased 13,221,112 shares at a total cost of AU$22,566,104.03. Including the latest purchase, the reported share count bought under the program reaches 13,254,112. The update confirms that buying continued, although it does not indicate the size of the company’s next purchase.

Program Has Room to Continue

The buyback covers Karoon’s ordinary shares, with 710,532,881 shares reported on issue in that class. The proposed program began on 23 July 2026 and is scheduled to end on 23 July 2027. Barrenjoey Markets is the broker carrying out purchases on Karoon’s behalf.

Karoon has not specified how many shares it plans to repurchase. It says the buyback will operate within the applicable 10/12 limit and does not require shareholder approval. Future purchase prices have also not been fixed, giving the company flexibility over when and how much it buys.

Share Price Remains in Focus

Across earlier purchases, Karoon paid as much as AU$1.920 per share on 17 September and as little as AU$1.560 on 24 July. On 22 September, the highest price allowed under the relevant ASX rule was AU$1.930, above the AU$1.810 highest price Karoon actually paid that day.

The next updates will reveal whether the company increases its buying or maintains a modest daily pace. Repurchases may reduce shares in circulation, but they do not guarantee a higher market price. For investors, the question now is whether continued purchases coincide with steadier trading in Karoon shares.

Note- All data presented is based on information available at the time of writing.

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