Karoon back in good books after Brazil find KAROON has recaptured some of its former highly-flying status after striking oil in its latest exploration well off the coast of Brazil. Its shares rose 90c or 22.5 per cent to $4.89 yesterday on news that its Bilby 1 exploration well in the Santos Basin had encountered oil within at least a 200m (gross) intersection in Maastrichtian (Late Cretaceous-aged) shale and sandstones.