Shares in Australia's Karoon Gas jump 60 pct after licences sold to Origin

SYDNEY, June 2 Sun Jun 1, 2014 8:13pm EDT

SYDNEY, June 2 (Reuters) - Shares in Australia's Karoon Gas Ltd jumped more than 60 percent on Monday after the oil and gas explorer said it had sold its stake in the Browse Basin offshore gasfield to Origin Energy Ltd for up to $800 million.

Karoon shares rose as much as 65 percent and were up 62.6 percent at A$4.00 in early trading, their highest level since Jan. 13.

(Reporting By Byron Kaye; Editing by Paul Tait)