Media reports are one thing Stevo but if its so well known what...

Media reports are one thing Stevo but if its so well known what they are after and have US$1b in finance ready it seems strange KAR's ASX reports never mentioned it.
All this was nearly 12 months ago.
Media reports... most in industry rags and or major financial newspapers. Long term knowledgable industry specific reporters. Admittedly doesn't guarantee the absolute truth or a result.
However these reports have been ongoing and do not come out of thin air.
Negotiations are " in confidence" and legally cannot be discussed. Something Cato doesn't seem to understand with his ramblings.
You don't announce securing funding for something you cannot talk about or that may never eventuate.

Is it Bauna or Peregrina is still the question no one but the media knows and they are guessing as the say "its thought" KAR are in negotiations.

Karoon are involved in negotiations on both fields. Seems pretty clear to me from all the reports.

If they win both, they buy both, although PB doesn't think they can do it. Perhaps it depends on the level of partnering?

They are still waiting on a farm in partner for Echidna and Kangaroo or that will not proceed either.

The farm in partner for Echidna is unimportant at the current time.
There is plenty of time for that when the moment comes. IMO after Bauna decision... good or bad. If bad, I am guessing that Karoon may have to go it alone on Echidna dev. It's not an expensive development, they can do 100% by themselves, it would be better to have a JV though.

So many irons in the fire for the just incase scenario.

As I see it, Once the first domino falls, whether Peregrino, Bauna or maybe another? the game plan is adjusted accordingly to suit various financing packages and the implications thereof, timelines are adjusted.
The example I have quoted so many times and the board is spelling it out is .... If they pick up Bauna, then the combined resource of Echidna/Bauna and the resultant synergies offers a larger, more attractive JV opportunity. they may already have the JV partners? . An industry article the other day stated the jV partners for Bauna, maybe they are the one and the same? I don't know. Then combine with the potential to pick up other stranded assets, you have the string of pearls strategy.

Well April you say will tell the tale yeah?

The board have indicated they have set timelines to complete or I assume move on.. Negotiated finance cannot be held in limbo forever...there are costs. so.. Peregrino seems to have been on the go for nearly two years Normally about eighteen months to get a result. We are overdue already. The reports say 1st qtr.... that's almost gone... so allowing a little more time.... A best guess from me.