Karoon Energy Ltd (KAR) announces that, further to its announcement on 26 May 2021, its wholly owned branch, KEI (Peru Z-38) Pty Ltd, Sucursal del Peru, has entered into a deed of settlement and release in respect of its dispute with Pitkin Petroleum Peru Z-38 SRL in respect of Block Z-38, offshore
Peru. Under the deed of settlement and release, without any admission of liability, Karoon has agreed to pay US$9.6 million to Pitkin in full and final settlement of all claims of Pitkin and its associates in connection with Block Z-38.
