# COE - Cooper Energy



## yogi-in-oz (27 April 2006)

Hi folks,

COE ... testing its January 2006 highs now
and hit 73 today, where the sellers have
emerged to set up further overhead resistance,
at this level.

Technically, a break above 72 by 08052006,
would see us looking for further overhead
resistance, around 89 cents.

Looking at some key dates ahead, for COE:

08052006 ..... 3 cycles here and though we
may see some positive news,
market reaction may be muted,
until about 22052006 ???

22-23052006 ..... minor and positive news???

26-29052006 ..... minor and positive cycle here.

02-06062006 ..... minor and negative news - finances???

13062006 ..... significant and positive cycle.

27062006 ..... negative spotlight on COE

29062006 ..... minor and positive - finances???

Further ahead, probably a bumpy ride through
July 2006, until about 28-31072006, when we
should see a positive spotlight on COE ..... 

Attached chart for COE, says it all ..... 

happy trading

  yogi


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## xice (4 August 2006)

Whilst company has been quiet, they seem to manage to usually get a stake of Beach (BPT) producing fields.
has increased 5% over the last 2days
This was valued at over 70c in the lead to the micro boom in May 06, and IMHO undervalued

Traded Over 7 times usual volume yesterday.


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## dubiousinfo (31 August 2006)

> Fat Prophets’ StockWatch: Cooper Energy
> August 31 2006 - Australasian Investment Review – (AIR)
> 
> Fat Prophets believes Cooper Energy is starting to regain momentum following a solid production quarter that saw a 4 per cent increase in oil sales and record cash reserves of $24 million.
> ...





The market cap is $69m & $75m including various options with ex prices ranging from 20c to 55c.

If the fat prophets profit estimates are correct (they seem in line with the $6m reported in the half year to Dec 05) then EPS for the year will be 7.8c/Shr & PER of 6.3, or 7.2c/Shr & PER of 6.8 diluted.

Add into this some good exploration potential & I would have to say I agree with fat prophets.

I grabbed some last month & am considering getting some more.

Any thoughts??


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## nioka (31 August 2006)

dubiousinfo said:
			
		

> The market cap is $69m & $75m including various options with ex prices ranging from 20c to 55c.
> 
> If the fat prophets profit estimates are correct (they seem in line with the $6m reported in the half year to Dec 05) then EPS for the year will be 7.8c/Shr & PER of 6.3, or 7.2c/Shr & PER of 6.8 diluted.
> 
> ...



My homework suggests they could be on the move. i have just bought a few  at 49.5c. with a view to hold for a year. Targeting the old 80c.


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## ALFguy (4 September 2006)

Definitely on the move now - bought some earlier today.

Looks to have good medium-long term potential.


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## billhill (5 September 2006)

Up 4.5 cents today so sounds like you guys may be right

billhill


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## Ken (26 September 2006)

they get a pretty good rap in smart inestor magazine.


valued at 58.5 cents.

at the moment p.e ratio of 6


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## vicb (26 September 2006)

Interim results for Cooper Energy due out on Friday (29/09/06).


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## Ken (26 September 2006)

im due for some GREEN


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## Ken (28 September 2006)

well according to a report it says the following.

-they are producing 368,000 barrels.
-exploration success in august positions itself to produce in excess of 300,000 barrels in 06/07
- coopers most recent success. joint venture with beach petrolem, was assessed at 1.6 million barrels.
- cooper had record of $25.9 million in cash at june 30, 06, 
- hartleys analyst, Andrew Roswell, says success at south madura could be worth $450 million, or $3.09  per share to cooper.
- The energy's base  case valuation is 59.7 cents, however this only includes 13.6 cents for the companies international interest.
- cooper has no hedging in place,, so its taking advantage of high oil prices. 

if south madura lives up to promise potential cash flow could be basis for significant re-rating.

Its trading on PE ratio of 6 times earnings. 

anyways i believe it could be a winner and got some.


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## laurie (29 September 2006)

Remember Ken good management is also important factor to consider  

cheers laurie


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## Ken (29 September 2006)

exactly,

also written is the decisions made in international exploration is the key.


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## Ken (6 October 2006)

up to 54.5 cents!

 price of oil to rise again and it could be even happier days!


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## laurie (6 October 2006)

OPEC to reduce production by a million barrels of oil per day

cheers laurie


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## Ken (6 October 2006)

does that also mean load up on SANTOS and WOODSIDE???

or has boat been missed on that.  what effect would 1 million barrels a day have on price of crude oil


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## laurie (6 October 2006)

ken
I think OPEC it trying to get it up to $70!   

cheers laurie


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## billhill (7 October 2006)

Basically OPEC will not let the price go below 50USD a barrel again.



> what effect would 1 million barrels a day have on price of crude oil
> Yesterday 03:09 PM




From memory the world uses between 80 and 90 million barrels of oil per day so cutting production by 1 million will reduce supply by 1-2%. Doesn't sound like heaps but with such tight markets at the moment i think it will keep the price around $60.

Billhill


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## Halba (7 October 2006)

no i wouldn't load up on santos. they are declining reserves and desperately trying to increase it by putting low ball bids for other companies. doesn't cut it for me.


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## laurie (7 October 2006)

Well said Halba   

cheers laurie


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## Ken (29 October 2006)

floating around 50-52 cents.

anyone holding?  and why


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## Ken (6 November 2006)

Well I have done a fair bit of research on cooper now and am comfortable to be holding.

The chart looks flat at 50 cents still however I think market is just needing announcements and the fact oil prices are also flat.

I'd rather see the chart go sideways for an extended period of time than gradually down.  I think the market says cooper as a potentially $1 plus stock.  Production of 300,000 barrels, and international expansion will add some serious value to shareholders.  Management seems to be very solid aswell.

I am holding at the moment, and intend to for the next 3 years  as 2007 will be a twilight year for cooper. They are on the verge of what the other small cap oil producers have been through. They just need some backing.


Cooper is significantly undervalued according to aspect models, and is trading on very low PE multiples under 10.  

good luck.

Nexus is also a belter of a stock....  NXS...


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## billhill (6 November 2006)

I'm holding. They have very good financials. No debt and around 29 million in cash. I like there management and their agressive international growth stratergy. Particually like their madura prospect in indonesia could be a real company maker. Previous drill results have detected gas and there are significant oil feilds scattered in the area.


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## Ken (15 November 2006)

I think they are 1-2 years away from being $1 + stock

just my humble opinion.

graph very similar to NXS.  up untill NXS boomed from 50 cents to $1.40


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## laurie (15 November 2006)

If the Madura prospect in Indonesia hits oil expect $3+ don't forget they have a 45% interest   

cheers laurie


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## Ken (16 November 2006)

momentum to gather in early 2007

buying opportunities up untill then


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## yogi-in-oz (22 November 2006)

Hi folks,

COE ..... after yesterday's announcement, it seems the 
market has overlooked the value of bringing revenue, 
from more than 500 bbl/day of production for COE ... 
bringing their total share of production to at least
1200 bbl/day ... easy money ..... 

Looking ahead, there's a mountain of positive cycles, due
to fall into place, over the next few weeks, before a 
negative start to 2007 .....

22112006 ..... positive cycle ... finances?

28112006 ..... positive light on COE

12122006 ..... positive news expected here.

14122006 ..... short, aggressive rally here

15122006 ..... negative cycle ... finances???

18-21122006 ..... strong rally here ...

27122006 ..... negative spotlight on COE

02012007 ..... negative news expected here.

Recent seismic should see an expanded drilling
program unfold, in 2007, too .... 

happy days

   yogi

P.S. ..... holding COE.


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## Ken (22 November 2006)

Can i please ask how you come up with these cycles/phases/positve/negative dates.


Have seen you post a number of times.

Personally i think COE is almost ready to rockn roll.  Oil stocks have been out of favour however.


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## jtb (22 November 2006)

Ken said:
			
		

> Can i please ask how you come up with these cycles/phases/positve/negative dates.
> 
> 
> Have seen you post a number of times.
> ...


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## Ken (22 November 2006)

question for oil buffs?

how does COE compare to companies like TAP, ARQ, NXS, AED, BPT.

they seem to be putting out some good results.

they are cashed up and making money. No exploration success has been priced into share price.

and the pe ratio is really low.

anyone?


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## Ken (4 December 2006)

is anyone accumulating cooper at this levels?

or selling?


i continue to hold into 2007 for international drilling...


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## billhill (5 December 2006)

Ken, The reason i bought was the madura prospect in indonesia. So will hold till after drilling then revaluate.


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## yogi-in-oz (5 December 2006)

jtb said:
			
		

> I agree, I'm intrigued yogi. Do you base your charts on listing date of the company and then cast to relevant planets governing finances etc??????? What prompts you to cast a chart for a company or have you plotted a heap into their relevant signs??
> Cool either way.
> Pity indo' will take most of the cream as I'm a COE bull too




Hi Ken and jtb,

In the late 1800s, Sepharial recognised the importance of
"natural vibrations or cycles", that can be used for timing
many events in our daily lives ... then, Gann came along
and applied Sepharial's theories to the stock market.

Every stock has its own unique "vibration"/critical cycles,
that can be used to focus on major events in the life of 
any stock.

Generally, first trade dates are mostly used to identify
obvious fixed cycles, like anniversaries for each stock.

happy days

  yogi

P.S. ..... holding COE.



=====


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## Ken (5 December 2006)

COE and OSH are my two oil plays at the moment.

I dont count BHP cause they do everything.

I want to get some more COE before the action starts if i can gather up some quickly enough.  Bought at 50 cents so would be handy to pick some more up around 46 cents.


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## yogi-in-oz (17 December 2006)

Ken said:
			
		

> COOPER
> 
> HOW do i say it?
> 
> ...






Exactly Ken,

COE ..... as per post above, on 22112006, we
are expecting a strong rally, this week ... 

COE alert ... astrostuff ... primed ...  

COE chart above, shows price action bottomed-out,
on the lower edge of the ellipse and primed to
rally, on the trigger of some positive news,
this week.

happy trading

  yogi

P.S. ..... holding COE



=====


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## Ken (28 December 2006)

I still hold...  JUST....

i got all mine at 50 cents flat.... i really should try pick some more up at current levels.... but whats 3 cents in the grand scheme of things....COE is having a good old captain snooze at the moment. Volumes are low... oil price rose and COE just flat.

any ideas yogi what announcements we are waiting for with this one....

IS a lack of volume a bad sign with this one..

I know i am bullish on it.  But on the flip side. could the lack of volume be a sign... OR would big volume and the price flat mean its about to drop.

I cant pick it... but I'd like it to head north!


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## yogi-in-oz (29 December 2006)

Hi Ken,

COE ..... as per post above, around 22112006, we took
profits on this one, immediately before Christmas, due
to the two negative cycles coming into play, this week
and next.

Figure that next minor and  positive cycles for COE,
should come into play, around:

       08012007 ..... minor and positive cycle - finances???

       18012007 ..... minor and positive news???

  24-25012007 ..... significant and negative cycle.

       26012007 ..... minor and positive light on COE

  01-02022007 ..... minor aspect ... finance-related???

  06-07022007 ..... minor news here ???

       23022007 ..... minor focus on COE

       26022007 ..... significant, positive news ... finances ?

happy days

 yogi


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## Ken (10 January 2007)

Did anyone notice COE dropped to 37 cents  on big volume the other day??

The latest announcement was not all that impressive for 2007.

If they Divest the South Madura asset then COE will be looking pretty bad.

Why are people still holding if they are??

I can  see this one slipping down gradually, if oil prices continue to suffer.

Is it a case of a long term hold???

Not many oil stocks doing well, do we hold through these tuff times, and hang on for the ride during the good times.

Is this a stock to tuck away in the draw and forget about?


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## kerosam (10 January 2007)

yes, i saw that 37cts low as well. their major (COE owns 45% in this project) play is the South Madura, due to drill in Feb 2007... potential 200 millions barrels of oil. doesn;t make much sense to sell them.


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## Ken (10 January 2007)

i know!

then why has the share price been dropping?


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## YOUNG_TRADER (10 January 2007)

Delay after delay after delay,

I rode COE from 30c to 70c ages ago when they were a vey active driller spudding wild cat after wild cat, made my money and was always gonna buy back in close to the spudding of Madura, but they've just taken so damn long to get the project going that I may not bother looking at it again.

Reminds me of CUE, made a killing there as well, glad to have got out around 40c


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## YOUNG_TRADER (10 January 2007)

Ken said:
			
		

> i spose it all comes down to patience.




Very tru mate, but unfortunately with investing patience also comes with "Opportunity costs" ie money generating better returns in other plays until COE is ready to get its act together


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## kerosam (10 January 2007)

guys, another possibility---- someone from 'inside' knows something???


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## Ken (14 January 2007)

I am a little bit worried about cooper.

The graph looks terrible... and the announcements are far from convincing.


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## vicb (22 January 2007)

Bought back into Cooper again last week at 43.5 for a short term trade.
Originally bought them at 50c a while ago.
Surprised they have been a little slow but support seems to be gaining with buyers sitting under the current price.
Will sell some this week for a quick turn over but will hold some for a longer stance.
They have had some support in the past with buy recommendations from brokers, and paid for  subscription recommendation.
The price of coe reflects the oil price drop.
Good little company with plenty of cash oil and projects on the table. 
Seems to be well undervalued but oil is out of favor this month. 
Swing back in oil should see value added.
I will be trying to jump in and out of COE in the next couple of weeks.


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## Ken (22 January 2007)

Cant see it getting above 46 cents without some exceptional news.


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## Ken (24 January 2007)

Well it has taken a stake in MOS.

I like it.


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## laurie (25 January 2007)

Market didn't like it and what is COE really up to   

cheers laurie


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## kerosam (25 January 2007)

maybe it is a safety net... if the drilling results are not as expected, at least COE holds another asset in MOS.

just a thought.


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## Ken (4 February 2007)

has anybody been accumulating COE?

i got in at 50 cents sometime ago.  still holding.

not much hype around them.

i am not an oil expert but how big is there south madura potentially....

and is it likely to succeed.


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## LifeisShort (4 February 2007)

I like COE but IMO there are better oil plays at the moment. Nexus, Petsec, Horizon, Amadeus just to name a few are getting bigger and better and potentially even though their market cap is bigger they have the better assets so I'd prefer to invest in them.


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## exgeo (4 February 2007)

AMU has about 100m in debt, so how long is it going to take to pay that back, earning 10m a year in profits?


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## Garpal Gumnut (5 February 2007)

Ken said:
			
		

> floating around 50-52 cents.
> 
> anyone holding?  and why





COE seem to be on a terminal slide chartwise. Down and down in a descending triangle, the only triangular pattern with a better proven outcome. Volume usually increases towards the end of the pattern before it breaks down, or less likely up.  Garpal

https://www.aussiestockforums.com/forums/attachment.php?attachmentid=6322&stc=1


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## Ken (5 February 2007)

The slide in price could be attributed to a drop in oil price? 

And a lack of exploration activity.

Below 40 cents I sell.


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## Ken (12 February 2007)

does anyone know when the results for COE's south Madura drilling comes out?

the COE graph is looking woeful.

no support, and its a long way off the pace.  Not looking good at all for  a company that is meant to be having a significamt 2007.


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## LifeisShort (12 February 2007)

Ken said:
			
		

> does anyone know when the results for COE's south Madura drilling comes out?
> 
> the COE graph is looking woeful.
> 
> no support, and its a long way off the pace.  Not looking good at all for  a company that is meant to be having a significamt 2007.




Good buy opportunity


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## billhill (20 February 2007)

just saw the anouncement that cooper has farmed out part of the madura operation to nations petroleum. Can anyone tell me what this means for the company, is it good or bad. Nations petroleum seem a good company with 50000 barrel daily output so the deal could lower the risk profile but does that  mean a cut in profits if they find oil. Any comments welcome.


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## Reefer (21 February 2007)

All the current detail re re the South Madura prospect are covered in Mike Scott's chat with Boardroom radio which was highlighted this morning.  He is pretty bullish about the prospect and the significance of the farm out.  have been biding my time waiting to load up before the drilling run and knew the movement was due to start shortly with spud in not so far away. Unfortunately the 41-42 range seems to have bolted this morning and we now have to pay around 45-46 which may seem cheap in a couple of months.

To listen to the broadcast,
http://www.brr.com.au/event/COE/406/19252/wmp/ec86y5uywh


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## Reefer (2 March 2007)

Pretty good announcement by Cooper this morning having acquired exciting prospects in North Sumatra.  Coupled with the Indonesian Govt announcement reported at  and things are looking good for COE.  Just awaiting annoucement of the spud in date for Kurnia due sometime in March. SP up 12% atm - may be correction before close.


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## kerosam (3 March 2007)

WAS looking for a good entry price (like 38 cts) then came the report from FAT Prophets... they have recommended a SELL...   

darn! now i have to look for another oil and gas company.


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## laurie (3 March 2007)

kerosam said:
			
		

> WAS looking for a good entry price (like 38 cts) then came the report from FAT Prophets... they have recommended a SELL...
> 
> darn! now i have to look for another oil and gas company.




I would not for one moment take Skinny Prophets advice just look at their own sp  

cheers laurie


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## billhill (3 March 2007)

kerosam said:
			
		

> WAS looking for a good entry price (like 38 cts) then came the report from FAT Prophets... they have recommended a SELL...
> 
> darn! now i have to look for another oil and gas company.




I'd like to know what fat prophets saids because as i see it now this company is very much on the move again. The south madura farm out and takeover of rion energy are quite positive developments.


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## Reefer (23 March 2007)

Slowly creeping up. Veritas put a 69c current price on the stock yesterday even before drilling Kurnia 1.  Spud in date is supposed to be announced today and increasing volume and rise in price (sales at 53.5 today) indicate announcement not far away.  Very good strength on the Buy side and not much stock available from sellers.  Most holders have been getting set for quite a while and this should shoot pretty quickly once the action starts.


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## CanOz (23 March 2007)

Reefer said:
			
		

> Slowly creeping up. Veritas put a 69c current price on the stock yesterday even before drilling Kurnia 1.  Spud in date is supposed to be announced today and increasing volume and rise in price (sales at 53.5 today) indicate announcement not far away.  Very good strength on the Buy side and not much stock available from sellers.  Most holders have been getting set for quite a while and this should shoot pretty quickly once the action starts.




Love this! Made my day. 

Thanks Nick!

Cheers,


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## mu5hu (30 April 2007)

Creating an ascending triangle like in previous times

Looks good..volume is following the trend of an ascending triangle with the vonlume decreasing before it break out of it.

Of course charting does not confirm something but just puts the odds in your hands so it could go the other way of course but i believe this ascending triangle looks good.


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## mu5hu (3 May 2007)

Beautiful.. lol

ascending triangle was a great set up if you got into it. Hopefully its stil got some momentum behind it.

OBV MACD & Stochs are all turning up.

Cheers


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## billhill (13 June 2007)

David Haselhurst has picked up this share for his speculator column in this weeks bulletin.
Share is up 3 cents today probably on the back of this. Good to see the company getting some positive media attention. Things are now starting to move.

http://bulletin.ninemsn.com.au/article.aspx?id=272360


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## bowser (14 June 2007)

Kurnia results are due in approx 6 weeks. I think a lot of the price increase is due to speculation on the the results. Great potential


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## laurie (26 June 2007)

SP up to .83cents getting closer to spud date fingers crossed no delays will hold it back on its way to a $1 otherwise a holding pattern around the .80cents resistance line

cheers laurie


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## moses (31 August 2007)

COE is up around 20% this morning following ann.

Kurnia-1: Oil and Gas Show 


Dear Shareholders, 


We are pleased to announce that Kurnia-1 has encountered a drilling break (increase in rate of 
penetration) associated with oil and gas shows over an 8 metre gross sandstone interval from 1,783 
to 1,791 metres. 

The drilling break resulted in gas concentrations in the mud rising from a background level of 30 
units to 224 units before the gas cut mud was circulated through the rig degasser with an increase 
in pressure on the choke manifold.  The mud weight was increased to control any further gas influx. 
A maximum gas reading of 3,132 units was recorded when normal circulation was resumed.  The 
sandstone samples exhibited oil stain and increasing fluorescence with depth (100% fluorescence at 
1,791m) and oil was observed on the surface of the mud. 

The rig is currently conditioning the drilling mud prior to drilling ahead and at 8:00am WST was at a 
depth of 1,793 metres. 

The significance of these gas and oil shows will be evaluated by wireline logs after the well has 
reached total depth of this section at 2,500 metres. 

The next ASX release is expected to be after we have run the aforementioned logs and evaluated the 
significance of these hydrocarbon shows. 


Yours sincerely 
Cooper Energy Limited 



Michael Scott 
Managing Director


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## Col Lector (11 September 2007)

The ann below was released just before 4pm today: and comes on top of success at Callawonga this week (30% of flow@5000 barrels per day); and oil/gas shows at Kurnia that are currently being sussed. The market doesn't seem to have embraced these results. Any oilers with a perspective on this??. I would have thought that both STU(70% Worrior) and Cooper Energy would have jumped on this flow of good news. Maybe the Worrior results were overlooked due to the lateness of the ann & tommorrow will see some SP appreciation.... Thoughts anyone??

ASX ANNOUNCEMENT - FOR IMMEDIATE RELEASE
11 September 2007
DEVELOPMENT DRILLING SUCCESS IN THE WORRIOR FIELD
South Australian based oil exploration and production Company, Stuart Petroleum
Limited (ASX Code: STU) today announced that the Worrior 5 and Worrior 6
development wells were successful and are to be completed for production.
The Managing Director of Stuart Petroleum, Mr Tino Guglielmo said, “The production
potential from the McKinlay Member in Worrior 6 is the best the Company has
observed in the Worrior oilfield and appears un-affected by existing field drainage.
The impact on the Company’s oil reserves will be evaluated after the wells are
brought on line”.
Wireline logs for Worrior 5 indicate 9 metres of net oil pay in the McKinlay Member
and 12.5 metres of net oil pay in the Birkhead Formation. Wireline logs for Worrior 6
indicate 12.5 metres of net oil pay in the McKinlay Member and 6 metres of net oil
pay in the Birkhead Formation. The wells will be completed for production from both
zones.
The Murta Formation is also being evaluated in both wells.
Worrior 5 and Worrior 6 will be tied in to existing Worrior facilities and commence
production two weeks after the respective drilling rig moves off location.
Participants in both wells, drilled within the Cooper/Eromanga Basin production
licence PPL 207, are:
Stuart Petroleum Limited (Operator) (ASX:STU) 70%
Cooper Energy Limited (ASX:COE) 30%


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## laurie (11 September 2007)

We need permission from the 
*A*merician
*S*tock
*X*change

before we can increase sp here on good news  I'm stating to think we should merge the 2 exchanges why should their bad news be ours  yeh I know their money is invested here but it's safer here than over there

cheers laurie


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## Col Lector (11 September 2007)

gidday Laurie....you following/holding?? What are your opinions on results to date??
SP finished down approx 1% at 0.789 despite the ann. I noticed the Good Oil pres suggested success at Callawonga was worth additional 10c a share, and Kurnia $1+; with Worrior success additional to these (not mentioned). Results at Kurnia are still uncertain, but the Callawonga2 & Worrior seem to have fulfilled expectations. eg, just Callawonga2 flows will contribute an additional revenue to COE of  approx $26mill/year!!  ie,25% x 5000barrels/day x 300 days/year x $70/barrel.


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## laurie (11 September 2007)

Col Lector said:


> gidday Laurie....you following/holding?? What are your opinions on results to date??
> SP finished down approx 1% at 0.789 despite the ann. I noticed the Good Oil pres suggested success at Callawonga was worth additional 10c a share, and Kurnia $1+; with Worrior success additional to these (not mentioned). Results at Kurnia are still uncertain, but the Callawonga2 & Worrior seem to have fulfilled expectations. eg, just Callawonga2 flows will contribute an additional revenue to COE of  approx $26mill/year!!  ie,25% x 5000barrels/day x 300 days/year x $70/barrel.



Col
It seems the sp may have factored already Worrior & Callawonga! so I think the main problem is Kurnia which many believe is the company maker or a duster so the market is sitting on the fence remember it's either oil or gas or both that will move it past $1.5+ I hold AED also and its following a similar patten everyone is waiting for production which is around the corner but not willing to take the risk amazing

cheers laurie


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## Col Lector (11 September 2007)

Thanks Laurie...tommorrow will be interesting...may see some delayed positive reaction to The Callawonga2 & Worrior results....


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## Reefer (12 September 2007)

Col are you selling us short at $70 per barrel - isn't that the USD price?  The current price of oil in AUD is a bit higher so the Callawonga increase may be worth more than 26mill p.a. depending on how large the reserve is.


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## Col Lector (12 September 2007)

Apologies Reefer....obviously the market has reacted badly to my miscalculations!! 
Have been given an opinion that the initial flow of 5000bpd is likely to settle about 50% lower once well settles down....Agree?


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## sfx (19 October 2007)

"Cooper Energy secures a strategic interest in the Hammamet PSC, Tunisia.

Cooper Energy is pleased to announce that it has agreed to farm into 35% of the Hammamet PSC in the Gulf of Hammamet in Tunisia." 

But to fund this....

"$60 million Capital Raising to Fund Aggressive International Growth Program
Placement of $55 million.

Cooper Energy Ltd is pleased to announce a placement of 84.62 million new shares at A$0.65 per share to raise gross proceeds of approximately A$55 million. The placement is subject to approval at an Extraordinary General Meeting of shareholders to be held on Wednesday, 14 November 2007 and is being made to institutional and sophisticated clients of Euroz Securities Limited."

AND..

"In parallel with the placement, Cooper Energy will also offer eligible shareholders the opportunity to acquire additional shares in the Company via a Share Purchase Plan (SPP) at A$0.65 per share, the same price as the shares offered under the placement, up to a maximum of A$5,000 per shareholder. The SPP will be limited to a maximum of $5 million in aggregate. The SPP is fully underwritten by Euroz Securities Limited.
Shareholders who are registered holders of Cooper Energy shares as at 5pm Perth time on 26 October 2007, with a registered address in Australia or New Zealand, will be eligible to participate in the SPP.

Whats the market sentiment about the new announcements from COE ?! Could be a winner if both the new farm-in, as well as the adjacent Bargou block are proven to be oil fields....

Long term, place in draw type of investment ?! 

Comments...??!!


----------



## laurie (19 October 2007)

I stand to be corrected but it appears Kurnia will not deliver the goods money wise because they are raising capital so ones to assume its a duster 

cheers laurie


----------



## sfx (19 October 2007)

laurie said:


> I stand to be corrected but it appears Kurnia will not deliver the goods money wise because they are raising capital so ones to assume its a duster
> 
> cheers laurie




Not necessarily Laurie. Their latest Investor Presentation outlines the following break down over the use of the new placements & share purchase plans. 

Proposed Use of Funds

Activity - Amount(A$ million)

Hammamet farm-in and drilling - $25m (Two wells)
Near-term Bargou seismic - $5m (100% of 2D or 3D seismic in 2008)
Seruway PSC appraisal activities - $15m (22.5% of offshore seismic and 30% of two offshore wells)
South Madura PSC drilling - $10m (Two shallow wells)
Working capital - $5m

Total - $60m

>> Kurnia could still be a success - although it being delayed, no GAS findings in the secondary target as they hoped for, does give it a bad auora. 

The delays mean that the road to production would be longer, hence to fund the next steps for the proposed works would require more funding from other more liquid funding sources.


----------



## Reefer (21 October 2007)

I am getting bad vibes about Kurnia1.  With us so close to the bottom I would have thought the total focus of the company would be on this well, but it appears to me the concentration at the moment is to push through the placement and SPP, all at 65c, before the results of Kurnia are known to the general market.  I may be cynical but I believe the placement and SPP will signed, sealed and delivered before the final news of Kujung is released to the market.  May just be smart financial manouvering but it doesn't give me a good feeling that we are going to hit 200mbl.


----------



## laurie (21 October 2007)

Reefer said:


> I am getting bad vibes about Kurnia1.  With us so close to the bottom I would have thought the total focus of the company would be on this well, but it appears to me the concentration at the moment is to push through the placement and SPP, all at 65c, before the results of Kurnia are known to the general market.  I may be cynical but I believe the placement and SPP will signed, sealed and delivered before the final news of Kujung is released to the market.  May just be smart financial manouvering but it doesn't give me a good feeling that we are going to hit 200mbl.




Reefer

Ever played Russian Roulette:laser_sho

cheers laurie


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## sfx (22 October 2007)

laurie said:


> Reefer
> 
> Ever played Russian Roulette:laser_sho
> 
> cheers laurie




Indeed agreed with yourselves Reefer / Laurie, that a new share placement this close to the Kurnia results does not show great confidence.

Roulette black or red. Let it ride.... in this case the odds are probably a lot worse, so perhaps its moreso let it all ride on '0' ! :bigun2:


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## Reefer (23 October 2007)

In yesterday's quarterly report the company stated:

"The Kurnia-1 well is progressing slowly towards its primary objective. Gumbo shale has been preventing quick penetration of the formations and the well is behind schedule. The next operation will be to set the 13-3/8” casing at 2,450 metres and then to drill to the top of the primary objective Kujung II carbonate at about 3,020 metres where 9 ⅝” casing will be set. An 8  ½”
hole will be drilled to evaluate the Kujung II section"

Oil-Online in one of it's reports on Indonesia reported:
"The Late Miocene ‘OK’ Formation is considered a good source in the southern, onshore East Java and Madura basin areas. The OK Formation also forms an extensive lateral and top seal for the Kujung Unit I reefs across the region while intraformational shales seal Units I and II carbonates."

Also from a geological report of the area:
"Recent hydrocarbon discoveries within the Oligo-Miocene carbonates of the East Java Basin reflect the effectiveness of the related petroleum system involving mature source rocks (kitchen area), migration pathways, good carbonate reservoirs, resilient seals, and good stratigraphic traps."
And
"A regional seal for reservoirs of the Kujung I is provided by widespread thick Tuban Formation claystones. Intraformational shales seal the carbonate reservoirs of the Kujung II and Kujung III."

So the shale they are having problems with seems to be a pre-requisite for sealing Kujung II reservoirs which is where COE are heading. So at least we are in the right sort of geological area.

Let the Russian Roulette begin, I'm staying in despite my concerns.


----------



## Trader Paul (23 October 2007)

Hi folks,

COE ... looking for more good news, late in October:

            29102007 ... minor and positive

      14-15112007 ... 2 minor cycles here

           28112007 ... positive spotlight on COE ... 

           05122007 ... positive news expected here

           10122007 ... minor

     17-18122007 ... negative cycle expected

     24-28122007 ... negative spotlight and negative news

          04012008 ... negative aspect ... finances???

     10-14012008 ... positive news expected to trigger
                               a BIG rally ... 

happy days 

 paul



=====


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## Knobby22 (11 November 2007)

I've decided to take part of my entitlement of the Share Purchase Plan. Is anyone else taking them up?


----------



## Reefer (11 November 2007)

I don't think I will accept for any.  I am not confident about Kurnia and if it proves to be a duster there will be buying opportunities before Gurame, below 65c imo.


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## sfx (14 November 2007)

Knobby22 said:


> I've decided to take part of my entitlement of the Share Purchase Plan. Is anyone else taking them up?




Good question - I haven't much $$ to spare, and I'm thinking that the investment could back fire. There's plenty of other fish in the sea so to speak !

As stated by Reefer, any bad news with Kurnia will only bring the SP down, and hence we'll probably see the SP below the placement issue price. Today at close its only some 3 cents off the issue price...

I think its also co-incidental that progress is slow with the drilling at Kurnia, and that we'll see no announcement being made before the deadline of payment for the new issue.

Heads or tails - who knows !


----------



## Col Lector (27 November 2007)

Good confirmation of oil show ann yesterday. Just announced......12 metres gross oil in highly porus reservoir at Parsons-1. Nice result!! Particularly given that this may represent a new oil-field in Cooper Basin...ie,it is approx 9kms from COE/BPT's existing successful fields Callawonga & Christies. COE 25%/BPT75% at Parsons.
This hole is also targetting oil from formations at deeper depth ...therefore  potential for more black gold....


----------



## Col Lector (27 November 2007)

Ann. from BPT confirming Parson's as a new field discovery. Flags potential for 1 mill+ barrels.......BPT generally conservative in this respect.......



> Wireline logging conducted overnight indicates the presence of a gross oil column in
> the order of 12metres in the Namur Sandstone. Reservoir quality is comparable to
> that present at the Callawonga Oilfield where the Namur Sandstone in Callawonga-3
> flowed oil at a rate of 5660 barrels per day during a clean-up flow.
> ...


----------



## laurie (27 November 2007)

Maybe they need to find Uranium......market slow in jumping on COE  maybe Kurina is still effecting sp

cheers laurie


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## Reefer (3 December 2007)

Monday, 3 December 2007 COE031207c
Company Announcements
Australian Stock Exchange Limited
Electronic Lodgement System
Kurnia-1 Oil Shows
Dear Shareholders,
Further to release COE301107a (Kurnia-1 Drilling Ahead), Cooper Energy is pleased to inform our
shareholders that oil shows have been recorded in the Kurnia-1 well.
The pertinent facts known by the Company are:
• The rig has drilled the 8 ½“ hole from 3,004 metres (9 5/8” casing shoe) to 3,029 metres.
• Oil shows in drill cuttings and free oil in the drilling mud commenced at 3,017 metres and
continued to the current depth of 3,029 metres.
• Elevated gas readings in the drilling mud and an influx of reservoir fluids into the wellbore
around 3,029 metres necessitated increasing the mud-weight to prevent reservoir fluids flowing
into the wellbore. The operation to weight up the drill mud is currently ongoing.
• Oil decanted from the drilling mud appears to be sweet and light/high API.
• Onsite geological evaluation indicates that the formation is most likely the Kujung carbonate,
which is the primary target for the well.
The forward plan for the well is to:
• Increase the mud weight to balance the pressure between the wellbore and reservoir.
• Drill ahead to 3,037 metres, which would be approximately 20 metres into the hydrocarbon
shows.
• Undertake an open-hole production test over the full section (3,004-3,037 metres
The production test is expected to provide information regarding the productivity of the formation
and the type of hydrocarbons that have been encountered.
The thickness of the hydrocarbon column will only be known after the full section of the Kujung has
been drilled and wireline logs have been acquired. The Kujung reservoir section is prognosed to be
250 metres thick at this location.
It is expected that the production test will commence this week.
Regards,
Cooper Energy Limited
Michael Scott
Managing Director


----------



## disarray (3 December 2007)

been a long time coming and an extremely nervous wait but success is sweet. there is a hartleys report on the coe website which states -



> ... if drilling is successful ... a 200mmbo discovery at South Madura would be worth up to 910cps for COE




all their broker reports can be found on their website at Cooper Energy Broker Reports

going to be holding this one for a while methinks. good luck to you other holders.


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## laurie (3 December 2007)

Looks like that 10% possibility has turned to being 100% incorrect  Christmas may come early for COE holders hope santa fills my stocking with black gold

cheers laurie


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## sfx (3 December 2007)

I'm eating my shirt now ! 

Could of, would of, should of.... well small gains atm. From the reports it seems that there could be more upside to COE before year's end?!


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## Reefer (3 December 2007)

Have a listen to the Boardroom Radio interview posted at 4.10pm i.e. after the market close.  MS is his usual conservative self but is still pretty upbeat.  The results are confirmation of the historical drilling, which is what the 200mbl was based on, and he gives a range up to a possible 460mbl.  Will be very interesting week with drill stem tests and wire line logs hopefully confirming somewhere between 90 to 460mbl by week's end.    


http://www.brr.com.au/company.php?o...=asx&q=coe&qindustry=&Submit.x=11&Submit.y=12


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## billhill (3 December 2007)

Been a long wait. Glad i had the faith to hold after so many delays. Good news and more potential upside to come with the seruway psc. Could be on our way to a decent sized new oil and gas player.


----------



## laurie (3 December 2007)

Didn't anyone hear the magical words from Mike Scott mouth *"Light Sweet Crude" * that's like drinking champagne as oppose to 4x  and is sold at a premium 

cheers laurie


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## nt65 (10 December 2007)

OK, whats going on here??????
share price now 85c.
A newby and very interested. Is it a good time to look seriously into this one?


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## disarray (11 December 2007)

its up and down because traders are busy playing the news. when first news of oil show at kurnia broke the price went from 70 to 1.30 or so and has been falling since then as further testing gives problems, caveats and so on. the main thing to focus on is that the well isn't at depth yet, it still has 360 metres or something to go till its target depth. 

hotcopper actually has some good threads going on about this stock and some posters explain the drilling and evaluation process well so its always helpful to learn more.


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## sfx (11 December 2007)

You probably also have to factor in profit taking due to the recent share placement. At 0.65cents for a max 5,000 shares for private shareholders, that guaranteed profit, on the back of what still is a speculative prospect.

No doubt some of the institutions would have also traded down somewhat, given their share placements ?! Not sure of any escrow though, so maybe I'm incorrect here....


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## laurie (18 January 2008)

Great day for COE why! well the rest were down and it held it's own maybe just maybe today will bring some news[ nearly always around 11am] we all be waiting for.STU reported good news and hopefully it will spill over to COE with it's 1/4ly report

cheers laurie


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## solomon (15 May 2008)

Does anyone hold this stock? Or am I the only one?

Does anyone have any thoughts on Cooper?

thanks


----------



## njc.corp (15 May 2008)

solomon said:


> Does anyone hold this stock? Or am I the only one?
> 
> Does anyone have any thoughts on Cooper?
> 
> thanks




u are not the only one-

i have a bit invested in it-
 thoughts-well i dont really have much to say about it then that  i am not enjoying the down trend this thing is been on lately-buts thats the  risk u take with juniors-

of course their  will be better things to come if their next exploration brings some good news- its due later this month or early june from memory-

Thanks

Nick--


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## ColB (16 May 2008)

Hey Soloman!  Hang in there! As NJ indicates there is probably good news to come soon.  I bought at $0.51 recently after one of their wells was a duster and sent the SP from around .90c down to current levels.

On 9MSN Money (The Speculator) has this to say.......

"Cooper Energy chairman backs his company

Cooper Energy's shares were sold down to as low as 47c in the third week of April after its Gurame-1X well on Indonesia’s North Sumatran coast proved a dud and was abandoned. 

Cooper’s share of the well cost it about $5 million, but the market ripped more than $20 million of the company’s value. Yet it has earned and retains a 22.5% interest in the block which will be re-assessed for other seismic targets. This well was more-or-less a sideshow to Cooper’s main asset ”” oil production in central Australia, where the company’s share of reserves is projected to rise by 25% to 1.25 million barrels by mid-2008. That equivalent to five times current annual production.

At 50c, Cooper's 252 million shares are valued at $126 million and it retains more than $60 million in net funds after writing off the Indonesia adventure. 

Readers who earlier followed the Speculator into this stock might be encouraged to known that chairman Michael Scott bought on market at 49.5c another 200,000 Cooper shares on Monday, lifting his holding to 557,881 shares. Following the well failure, broker Euroz Securities’ analyst Oliver Foster in a note to clients valued Cooper shares at 91c, after halving the value of the company’s holding in the Sumatran block to just 3c."

The info above is enough to keep me in (speculative or not)

Good Luck!


----------



## solomon (18 May 2008)

Thanks for the encouragement, I'm haning in there.  I hope that the market wakes up to see COE the way I do.


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## solomon (20 May 2008)

Looks like someone must be listening to me! The price has been moving gradually up over the last few days.


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## solomon (22 May 2008)

Whoo hoo up 9% today! Does anyone have any thoughts as to how much further this little fella can run?


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## njc.corp (22 May 2008)

solomon said:


> Whoo hoo up 9% today! Does anyone have any thoughts as to how much further this little fella can run?




last couple of days and today is adding to the cause but-i cant give u any idea where its heading-

because the last news was no good and if  the new test's or drills come back bad again it will go down to where we have been before-( of course)

i might have to go back and see why and what cause it to go over $1.00+ in past-it won't reflect the future but it will give me a better understanding if this stock's price's are driven by results or good new's

all in all enjoy it  if theirs good times ahead??????

Thanks

Nick--


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## ColB (22 May 2008)

Hey Sol, watching this one today with some joy like yourself.  Went searching for an announcement but none!  The old story of the market knowing before we do possibly applies here or maybe its just because oil is becoming the flavour of the day.  

How far will it go?  Who knows, it could do a GCR and drop back tomorrow but I'll be hanging in there waiting for it to test its last high of 85c.

Maybe YT, Kennas or TA maybe able to give a more detailed appraisal if we ask them nicely!

Good luck to holders.


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## laurie (22 May 2008)

Maybe you have not heard the news lately oil hit a high of $130 a barrel on its way to $150!                                                 

cheers laurie


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## kenny (4 June 2008)

Here's an interesting article that reviews COE nicely by the Speculator.

Hope it helps.

Cheers,

Kenny

http://money.ninemsn.com.au/article.aspx?sectionid=2338&subsectionid=79751&id=574212


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## solomon (6 June 2008)

I sold out in the last rally (not at the top unfortunately), and am back in today (not right at the bottom unfortunately). I still think this little fella looks good and lets hope the oil price action helps tonight.


----------



## AussiePaul72 (15 June 2008)

COE is confusing me at present and i'd like to be enlightened by anyone that has some thoughts on it!
A lot of analysts are saying that COE is undervalued at present and has a lot of potential at these SP levels. We saw what i considered to be a very good announcement recently which virtually had no effect on current SP. At the time i put it down to the poor market sentiment on the day it was released but since then we have seen the SP retract further to sub 50's. I bought in at 51.5c and am still confident the SP will rebound but i just don't understand who in their right mind would be selling at levels below 50c and making money particularly with such positive outlooks for COE?????
I have noticed also there have been lots of small share packages (<$1000 worth) at certain SP levels on both the buy and sell sides. Does anyone know what is happening here?
I look forward to hearing peoples comments on COE and the way they read what is happening at present! Good luck to all fellow holders


----------



## Biggle (17 June 2008)

I have been watching COE for a while and I can't help but think the price drop is being caused by a lot of small bot buys eg 100 shares. The current price seems to be the lowest it has been for 2 years so I don't think whoever is selling at the moment could be making a profit or even breaking even. I believe someone is selling it down and accumulating. I thought a few days ago when a big buy order for about 700000 shares pushed the price up to .52 the stock would head north. With the POO at record highs, to me it defies logic why the SP would be at a 2 year low unless it was being manipulated down. Hopefully they will get their fill soon and things will pick up. Just my opinion.


----------



## AussiePaul72 (18 June 2008)

Biggle said:


> I have been watching COE for a while and I can't help but think the price drop is being caused by a lot of small bot buys eg 100 shares. The current price seems to be the lowest it has been for 2 years so I don't think whoever is selling at the moment could be making a profit or even breaking even. I believe someone is selling it down and accumulating. I thought a few days ago when a big buy order for about 700000 shares pushed the price up to .52 the stock would head north. With the POO at record highs, to me it defies logic why the SP would be at a 2 year low unless it was being manipulated down. Hopefully they will get their fill soon and things will pick up. Just my opinion.




Yes I agree Biggle ...... surely sellers can't be making profits selling at these levels and the only reason i can see for selling is to manipulate the SP and accumulating more from holders that get too nervous and sell out. Fundamentals are very good and as far as i can see i don't think the SP can remain at these low levels for much longer. Please let me know if i'm missing something ..... but COE is a very good buy at these levels IMO ..... DYOR first!!


----------



## Trader Paul (26 July 2008)

Hi folks,

COE ... expecting 2 time cycles to bring some positive news,
early this week ..... 

have a great weekend

   paul



=====


----------



## Trader Paul (29 July 2008)

Trader Paul said:


> Hi folks,
> 
> COE ... expecting 2 time cycles to bring some positive news,
> early this week .....
> ...






Hi folks,

COE ..... as expected, this one is ticking up nicely now, on the 
back of an investor update, today ..... 

happy days

 paul



=====


----------



## AussiePaul72 (1 August 2008)

Seems we are starting to see a turn around in SP direction for COE. I managed to pick up some more today at the intraday low of 42c.

Less than 20,000 volume on offer under 45c on the sell side. Some resistance seems to be developing between 40-41c which is very encouraging.

I'm looking forward to seeing where COE ends next week. With COE a producer together with some very interesting exploration prospects to be drilled, it has potentially got a lot of upside. 

I have been patiently waiting for a turn around and hopefully this is just the beginning. IMO there was no need to be forced into panick selling with the SP decline, it was having confidence in the fundamentals and seeing it as a great buy opportunity


----------



## solomon (19 September 2008)

Cooper has been on vacation or something, well south anyway. That said there was a nice bounce today.

I don't like the chances of bagging Incremental.

Do any other holders have a thought on the bounce or incremental.


----------



## Kuri (19 September 2008)

solomon said:


> Cooper has been on vacation or something, well south anyway. That said there was a nice bounce today.
> 
> I don't like the chances of bagging Incremental.
> 
> Do any other holders have a thought on the bounce or incremental.





The bounce was probably due to the advertorial in the AFR today. It alks uo the offer for incremental but with all the stringent conditions applied by COE it has small odds of succeeding. If it does succeed I think we would have bargain though and plenty of money for new exploration.


----------



## solomon (19 September 2008)

Thanks Kuri I wasn't aware of the article and it is always good to have an insight into why the price moves up.


----------



## laurie (22 September 2008)

Maybe COE wants to have a small holding now and make a full T/O later on the price/script offer does not match up to what's on offer 

cheers laurie


----------



## Kuri (22 September 2008)

laurie said:


> Maybe COE wants to have a small holding now and make a full T/O later on the price/script offer does not match up to what's on offer
> 
> cheers laurie





It is a lot of effort and expense to go through though if they do not think it will succceed. If it does work out they should have easier access to funding anyway.


----------



## UPKA (12 May 2009)

Another junior producer/explorer caught my eye. COE has a market value of ~$120m @ 43c:
=======================
+~$90m in cash = 31c/share
+produced 140,000 barrels last quarter, and is on track to keep the production rate steady, which will generate 500,000 barrels of oil this yr or AUD$35m in revenue (oil @ USD$50/barrel, AUD:USD @80c). Even if we take the production cost @ $20/barrel, which is at the high end of the scale, the net profit be4 tax is roughly around AUD$15m.
========================

Cash + 1 yr's production gives the company a fair value of $105m. At the current market cap, COE's assets are worth $15m. ridiculous for a company that has producing assets with no debt and no hedging!! And dont forget it's exploration assets, i think i read somewhere the exploration success rate to date is about 60%!!


----------



## UPKA (12 May 2009)

on a technical note, COE is breaking through it's old resistance of 42.5c, buyers are queuing up .


----------



## Kuri (10 June 2009)

I am struggling to calculate how long COE oil reserves will last for (excluding any new finds int he current program). On current proven reserves does anybody know the answer?

Thanks
Kuri


----------



## cutsnake (12 July 2009)

Kuri

Some research indicates they are producing at about 500K barrels per annum with reserves stated at 
              1.4M proven as June 2008  (assume 100% owned)
              2.1M proven from Butlers and Perlubie (25% owned ?)
              4.5M proven from Worrior (30% owned)

All info flaky as they are not good at keeping the market informed and their website is way out of date.  It looks as if they have about 3M proven at medium estimate = 6 years at current production rate.  They have recently been able to discover and prove reserves faster than production rate

Cutsnake  -- yes I have a few shares


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## munga (12 November 2009)

good news out today funny how share price spikes
3-4 hours before the announcement.hmmm  



View attachment 31m0n33r904s0s.pdf


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## roland (19 April 2010)

COE held up very well with today's broad sell off - in fact up nearly 1%

Being close to a 2 year high should mean that we have very few stressed holders waiting to sell.

We have had close to month of consolidation so I am hoping a little good news should give us another leg up.

The only immediate threat I can see is if the profit takers get nervous or bored.


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## BESBS Player (18 September 2010)

Looks like COE is now a BESBS prospect in the wings. 
The JV announcement with jacka yesterday is a positive outcome and importantly, a date of November was mentioned regarding drilling in Tunisia. 

I'm not in as I have money elsewhere but it looks a good punt, especially starting from a SP around 40c (within 15% of annual low). I'd be hoping for a 40-70% return (especially if production increases are announced from the flooded Cooper region) based upon past pre-spud runs and allowing for the psychological profile of punters in the current market.

Good luck to all holders. Enjoy the ride...hopefully I am underestimating the possible returns here...


----------



## BESBS Player (21 September 2010)

Well, well, well...

Announcement out regarding Poland and Russia.

Now we read that COOPER Energy has mapped 12 prospects and leads containing 52 million barrels of prospective resources across its onshore Otway Basin permit in South Australia...

Drilling in Tunisia hoping to occur by late November...


Me thinks this punt is already starting its pre-spud run. Looks like management will drip feed the good news stories 


Disc: NOT HOLDING (as I have funds elsewhere but can see this being an easy 50% gain for someone as a BESBS - Buy Early Sell Before Spud - tip)

Tipped at 39.5c. Now 45c as I write.


----------



## BESBS Player (6 October 2010)

Decided to buy in recently. Missed the first quick rise (although I predicted it) but still see plenty of BESBS potential here. Tunisia drilling is the key SP trigger with exploration and production predicted in the Cooper Basin once the flooding settles etc.


Tipped at 39.5c; hold COE at 44.5c.


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## Smashie (11 October 2010)

I have just bought into COE today at 45.5 cents. I have been watching it for the last few days and finally decided to get in, Are you still happy to hold for the spud? Because you have more experiance with pre-spud leadups what do you estimate it will rise by?

Thanks! (i've read most of you posts BESBS Player - wealth of knowledge, did you work in this industry?)


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## BESBS Player (18 October 2010)

G'day Smashie.

Absolutely happy to hold.
Timing wise, I am hoping that I can off-load COE before Christmas. Nevertheless, you have to remember that drillings can be delayed slightly so I'm expecting Christmas as a timing.

I am planning to sell halfway into the Tunisia drill. This should allow punters to all be on-board and also wait just incase an early announcement of hydrocarbons/gas/oil etc are announced. This explains my Christmas time-line.

In the meantime, I'd be hoping for an announcement stating that production is increasing (as flood problems disappear) and possibly the resumption of exploration in the Cooper Basin. This would help lift the SP. Also, the Christmas spirit doesn't hurt as pre-Dec.25, punters are usually a little happier and risk accepting.

Predicting a SP - difficult. I base my expectations on the psychology of punters when faced with the target and general market conditions. I'm hoping for something in the 60c range but this could get a little higher (given past SP when drilling in Indonesia). It will depend a little on the other factors mentioned above.

Hope that this is helpful.

PS. Don't work in industry. Have a M.Env Sci  and Business background. Developed my own take on the BESBS model a decade or so ago.


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## Smashie (18 October 2010)

I'm quite new to the whole share game, but the thing I like about BESBS method is that like you said it is base on the psychology of people. I believe technical analysis is a joke because you cannot use the past to predict the future, although unless enough people fall victim to this method - one will see the trends coming up. This is why i completely support and am interested in the BESBS method. I have a lot to learn about the oil and gas sector and if you have any recomendations of good books (especially BESBS) I would be really greatful.

Assuming oil/gas reserve is at 3000ft how long would it take to drill an exploratory well? I understand the material drilled through would make it vary alot but in general is it > 1 month from spud? Wouldn't mind reading your take on the BESBS method if you published it anywhere...

Cheers - very helpfull analysis of COE. (holding SEY too  and looking into SIR)


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## BESBS Player (19 October 2010)

G'day Smashie.

Truthfully, I have never read a book on the BESBS method. I just started and learned early on by trial and error over the years. 

I had heard about the BESBS method but then started to observe (often by not making money!) about the factors that I think influenced the SP outside of the traditional factors that I was told - cash, is the rig booked, size of potential target etc.) Given I think 'greed/want to get rich asap' (expressed as an emotion) is a key trigger to get the SP lifting, then it seemed to me that other emotion triggers were also impacting on the final BESBS result.

As an educational tool, John Campbell's *Oil & Gas Weekly* has a section on BESBS possibilities. It does provide a smattering (there are a lot that John doesn't cover due to time restraints and his choice) but doesn't focus on the psychology side of things. Still, It is a useful list to start with. And yes, I am not John nor a friend/relative trying to push his good newsletter.

One issue is that so many in this game want to assume that valuations can be made largely as a scientific process. To me, while this is one important ingredient, human emotions are much harder to put into a scientific or mathematical formula. This is why I use a basic BESBS model but then try to place a 'psychological' framework over the traditional valuations.

PS. Remember SIR is a LONGER term BESBS. It could take months so I'd wait and see if you can get entry below 1c...I'll be watching to accumulate on weakness but would not chase this unless new announcements are made.


All the best.

BESBS


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## Smashie (19 October 2010)

I just had a look at his newsletter examples on www.oilers.com.au, looks like a very good place to get your feet wet in this sector, thanks for the heads up. 

I agree with you on the psychological front I'm a biomedical engineer, so I'm a numbers man so I should be a techy, but it just doesn't feel right. 

I first got into stocks because of a company I was working for CathRx. For about 3 months I watched the share price rise with announcements then drop off shortly after. I made a small fortune when I started to realised that most of the announcements were just hype, and that I could buy before wait sell then rinse repeat. This is why I agree with your psychological POV, nice to find someone else that is whistling my tune.

Cheers


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## BESBS Player (28 October 2010)

Report out on the ASX today.

Looks like the Menzel-Horr is all set to go in Tunisia in December. Hoping that we will start to see some BESBS $$ moving into COE over the next 3 weeks.


Tipped at 39.5c; hold COE at 44.5c.


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## BESBS Player (4 November 2010)

Bit of a sleeper at present.
Today's report mentioned December 2010 as the spud date for Tunisia.
This one could creep up on investors quickly...


Tipped at 39.5c; now hold COE at 43.5c.


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## BESBS Player (15 November 2010)

G'day all,

An interesting article out today. (Thanks to V1 for letting me know).

*Top picks – Oil & Gas*
*Cooper Energy (COE): With $0.32/share in cash and the cornerstone producing Cooper Basin valued at $0.20/share, the conventional upstream oil and gas producer trades at a 55 per cent discount to Simpson's $0.67 target price. Included within Cooper's busy 2010/2011 drilling program are wells in Tunisia, the Cooper Basin - plus new ventures in Romania and Poland. If successful, Simpson says the onshore Menzel Horr wells in Tunisia Rig, due for drilling in November, could add a 70 cents upside to the current price.*
http://www.thebull.com.au/articles/a/15523...-portfolio.html


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## BESBS Player (1 December 2010)

Announcement out from COE today.

The drawcard here is Menzel-Horr. The scenario, as I see it, is the following:

* We now have confirmed drilling for a spud Dec.21-24. This is a positive as punters have a set date.
* Menzel-Horr has an estimated P50 target of 24 million barrels. This is not a small target. 
* Menzel-Horr has 3 target zones (to my understanding). This allows punters to hang in for a while and in a sense, have 3 cracks at success.

The downside (apart from the usual weather/equipment breakdowns that all drills face) is 
* COE is not a 'sexy' stock. I'd like to think a potential 24mmbl is a good lure but COE doesn't usually get the same support as some explorers at times.
* Christmas???How many punters are playing over the break?
* There are some other drills currently/about to spud in or near that time. Will this distract from COE? My guess is 'yes' but the question is how much?


Given where we are now, I'd like to think that 55c is a strong possibility pre-spud but given the scenario above, time shall tell. Probably a quiet fortnight ahead then hopefully the cash starts to move in.


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## jonojpsg (1 December 2010)

I'd like to think so to BESBS!!  I'm in more on fundamentals than spec, given they have more than half of their MC in cash and the Tunis JV with Jacka values that block alone at another half of their MC.  

Which leaves current production of 400k barrels a year valued at zip 

That surely leaves some room for serious SP appreciation IMO


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## BESBS Player (2 December 2010)

Hi Jono,

I'd like to agree about fundamentals leaving plenty of room for SP appreciation. In the current market, though, I'm not sure fundamentals are really being valued as we might hope. COE is an example...the SP has been flat and I sense that any SP appreciation shall be linked to Menzel-Horr at present. 

Either way, we both gain in the short-term. 

Cheers,
BESBS


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## BESBS Player (14 December 2010)

Getting closer to the stated late December spudding.

Hoping to see some strengthening in the SP in a week or so.


Holding COE.


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## BESBS Player (29 December 2010)

Should hear an announcement re. drilling in Tumisia any day (assuming no stuff-ups).

Holding COE at 43.5c


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## philly (30 December 2010)

BESBS Player said:


> Should hear an announcement re. drilling in Tumisia any day (assuming no stuff-ups).
> 
> Holding COE at 43.5c




No news yet regarding the spudding of  the Menzel Horr well in Tunisia despite this article in  upstream online on 21-12-10 - 10 days ago.

"Rig heads to Bargou spud site. The H&P Rig 228 is on its way to the Menzel Horr-1 well site, off the coast of Tunisia. Jacka Resources, which has a 15% stake in fellow Australian explorer Cooper Energy’s Bargou exploration permit, said the rig had been mobilised yesterday, and was expected to take around seven days to complete. 
Jacka said in an earlier announcement that the well was expected to take about 24 days to drill, and is one of two wells Cooper plans for the permit. 
The Bargou permit is located within the Pelagian basin and includes both on- and offshore areas along the coast of Gulf of Hammamet."

I hope that progress is being made and its not a stuff up.
I patiently hold


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## philly (4 January 2011)

philly said:


> No news yet regarding the spudding of  the Menzel Horr well in Tunisia despite this article in  upstream online on 21-12-10 - 10 days ago.
> 
> "Rig heads to Bargou spud site. The H&P Rig 228 is on its way to the Menzel Horr-1 well site, off the coast of Tunisia. Jacka Resources, which has a 15% stake in fellow Australian explorer Cooper Energy’s Bargou exploration permit, said the rig had been mobilised yesterday, and was expected to take around seven days to complete.
> Jacka said in an earlier announcement that the well was expected to take about 24 days to drill, and is one of two wells Cooper plans for the permit.
> ...


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## BESBS Player (4 January 2011)

ASX release:

"We are pleased to inform shareholders that the H&P 228 drilling rig commenced drilling the Menzel Horr-1 well in Tunisia at 1830hrs (Tunisia time, 7 hours behind Perth) on 3rd January 2011.

The Menzel Horr Prospect lies wholly within the Bargou Exploration Permit, Tunisia, which Cooper Energy was awarded in 2006. Cooper Energy is the 85% owner and Operator of the permit. Jacka Resources (ASX: JKA) is earning 15% in the Permit.
The Menzel Horr Prospect is a robust thrust-bound, dip-closed structure and there is the potential for hydrocarbons to exist at multiple reservoir horizons. Potential exists for a much larger upside volume to exist should the bounding faults be proven to seal.

A depth versus time curve is attached to this announcement. It is expected that the key target formations will be encountered between 10 and 25 days.

Michael Scott, Managing Director, noted; After a thorough and long planning phase we are pleased to have spud Menzel Horr-1. The geological feature appears to be robust and the prospect is in an area that has a number of proven oil and gas fields. We are expecting to spend around $5 million and the potential exploration reward is 20 million barrels of oil an excellent risk reward ratio that has limited downside and large upside. Success at Menzel Horr would be expected to substantially change the value of the Company."

Looks like we are away...


Holding COE at 43.5c


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## BESBS Player (6 January 2011)

Maybe hitting first of 3 zones by Monday/Tuesday?

Should be interesting to see if the market acknowledges this (up or down). So far this has been a disappointing build-up.


Holding COE at 43.5c


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## BESBS Player (9 January 2011)

:







BESBS Player said:


> Maybe hitting first of 3 zones by Monday/Tuesday?
> 
> Should be interesting to see if the market acknowledges this (up or down). So far this has been a disappointing build-up.
> 
> ...




True to my BESBS strategy, I have sold out of COE as we are fast approaching the first of possible results at M-H. Decided to move funds across and play a quick BESBS play on SUR. 

Overall, as a BESBS (Buy Early Sell Before Spud) play, COE has been a disappointment.

Oh well, guess a profit is a profit at one level.

Bought: 43.5c
Sold: 45.5c
Profit: Barely 4%


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## philly (9 January 2011)

BESBS Player said:


> Announcement out from COE today.
> 
> The drawcard here is Menzel-Horr. The scenario, as I see it, is the following:
> 
> ...






BESBS Player said:


> :
> 
> True to my BESBS strategy, I have sold out of COE as we are fast approaching the first of possible results at M-H. Decided to move funds across and play a quick BESBS play on SUR.
> 
> ...




Hi BESBS
well done on turning a profit and being true to your strategy.
I think that in your ealier post you accurately summarised the difficulties facing COE in the lead up to drilling this potentially company making well. It is not a sexy stock and it has generally been ignored by the market. The spudding of this well has had no impact on the SP.
According to the "depth versus time" chart accompanying the ASX announcement on 4-1-11 the first target, the Ain grab formation limestone, should be intersected on or about the 13-1-11. Hopefully, some one apart from us will take notice.
I got in a few years back when COE was still a fledging explorer in the Cooper Basin so I am now free carried my current holding so my strategy is wait and see.
Good luck with your play with SUR .


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## philly (17 January 2011)

Cooper Energy Ltd says drilling at its joint-owned well in Tunisia has been suspended due to political unrest in the country. Cooper Energy said the declaration of a state of emergency in Tunisia had forced the suspension of work on the Menzel Horr-1 well.
President Zine El Abidine Ben Ali has fled Tunisia after protests against his regime, and opposition parties are currently working to form a national unity government.
The site has been secured and drilling will resume as soon as normal operating conditions resume, Cooper Energy said.


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## BESBS Player (18 January 2011)

Hi Philly,

Thanks for the compliment on the trading strategy. Ultimately you don't go broke in this game ifyou preserve capital and take a profit (even smaller than wanted!). 
Not sure if SUR will do much but hoping for a little rise next week.

Good luck with your trading.

BESBS


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## philly (18 January 2011)

BESBS Player said:


> Announcement out from COE today.
> 
> The drawcard here is Menzel-Horr. The scenario, as I see it, is the following:
> 
> ...


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## Trader Paul (15 February 2011)

Hi folks,

COE ... price stirring today, ahead of a positive time cycle,
expected around 17-18022011 ..... 

have a great week

paul



=====


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## philly (2 March 2011)

It's been 8 days since the last ASX report regarding the Menzel- Horr well in Tunisia. It should have encountered the secondary target a few days ago and should be reaching TD soon yet no news . 
Instead yesterday they release a speculative report regarding Hammerent which isn't due to be drilled until the end of the year.
Are they trying to soften the disappointment???
Any thoughts??
I hold


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## philly (14 March 2011)

philly said:


> It's been 8 days since the last ASX report regarding the Menzel- Horr well in Tunisia. It should have encountered the secondary target a few days ago and should be reaching TD soon yet no news .
> Instead yesterday they release a speculative report regarding Hammerent which isn't due to be drilled until the end of the year.
> Are they trying to soften the disappointment???
> Any thoughts??
> I hold




The Menzel-Horr well has been P&A after it failed to find any hydrocarbons. Strangely even with all the modern technology this well proved to be completely off track. It was drilled 500m more than the proposed TD and couldn't even find an oily rag. Will need to re assess before drilling the next well. In the meantime back to the trusted Cooper Basin to keep the income flowing. A very disappointed holder.


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## BottomFeeder (21 March 2012)

anyone notice the substantial rise in share price of late?

I wonder who is doing all the buying....

I have a small holding that I've had for a little while and am glad to see the value being realised


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## philly (22 April 2012)

Surprised the COE launched a takeover bid for SOMERTON ENERGY when BEACH ENERGY holds 56% of the shares in SOMERTON ENERGY. If BEACH doesn't like the offer then bid is thwarted. Anyway wait and see.


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## mr. jeff (22 April 2012)

philly said:


> Surprised the COE launched a takeover bid for SOMERTON ENERGY when BEACH ENERGY holds 56% of the shares in SOMERTON ENERGY. If BEACH doesn't like the offer then bid is thwarted. Anyway wait and see.




They would have evaluated that before making the bid. In the future it may be a fish swallowing a fish swallowing a fish if you know what I mean.

Anyway, COE has some attractiveness. I thought I posted on my entry but apparently not. apologies.





They have cash.




They are earning money as well. With more to come, approx, 40M / annum now.




they are consolidating at these levels at the moment but a move through 70c may not be far away assuming all this takeover action gets bedded down quickly. It's a scrip offer I think so that won't hurt cash too much.
Will update after more digging. Anyone add anything ?


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## roland (22 October 2012)

In retrospect, April/May was a classic head and shoulders, followed by markdown until beginning of June, accumulation through July. Mark up from July until now - hope I can pick up the distribution and sell at a nice profit before the next mark down.


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## greggles (6 July 2018)

Cooper Energy looks like it might be ready to break out of a consolidation pattern it has been trading in over the last couple of months. Since early May it has been trading in a tight range between 35c and 39c but good news flow regarding its Sole Gas Project in the Gippsland Basin is starting to filter through.

Am keeping my eye on this one for a break above 40c.


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## jjbinks (19 February 2019)

Testing resistance at 50-51c on the weekly. Looking for BO


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## Trav. (26 July 2019)

I bought COE yesterday on BO, not much resistance here ( you have to go back to 2008 ) so hopefully we will see $0.70 tested soon


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## Trav. (29 July 2019)

Rig Mobilisation...

https://www.asx.com.au/asxpdf/20190729/pdf/446ylx6cwmrjzm.pdf


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## rnr (21 November 2019)

Purely speculation! That said, COE has just registered a triple bottom, so where to from here?


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## Chronos-Plutus (22 May 2020)

Trav. said:


> Rig Mobilisation...
> 
> https://www.asx.com.au/asxpdf/20190729/pdf/446ylx6cwmrjzm.pdf
> 
> View attachment 96444




I bought into COE the other day. Bought in @ 40 cents. Stock has been stuck in a downtrend channel for the year and looks ready to breakout.





Stock fundamentals look to support the downtrend channel breakout based on:
- Commissioning of the Orbost Gas Processing Plant has begun and gas production has recently started at 28 TJ/day with incremental ramp-up to a production target rate of 68 TJ/day (https://www.asx.com.au/asxpdf/20200522/pdf/44j128vhlnsppj.pdf)
- Cooper Energy is in a reasonably strong financial position with cash on hand at AUD$149 million and net debt at AUD$77million (https://www.asx.com.au/asxpdf/20200331/pdf/44gk0p54bz9cg1.pdf)


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## Trav. (22 May 2020)

@Chronos-Plutus I like this buy better. I think that you have timed it pretty well and if can break 44c then happy days.


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## Dona Ferentes (1 October 2020)

Cooper Energy is understood to have joined forces with Morgan Stanley Infrastructure Partners in its quest to buy Eni’s Australian energy assets that could be worth up to $1bn.

Morgan Stanley Infrastructure was always believed to be an eager acquirer of the portfolio, but has needed to find an operator to run the projects if it gained control of the assets.

Other parties said to be in the final round of the competition are Macquarie Group and Neptune Energy, backed by The Carlyle Group, and MedcoEnergi.

_Expect a cap raising_


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## bux2000 (30 September 2021)

With a chart showing what could be a breakout and the uncertainty surrounding fuel supplies a long with a recent upturn in oil and gas prices I am hoping COE may go well for my October Stock Pick. 🤞

bux


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## tech/a (5 October 2021)

On the topic of oil. Ill throw one in I like.

If I trade it Ill post up Buy stops etc.
(Whats would you do?)







Live *LARGE*


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## tech/a (23 October 2021)

My apologies for not following up on this and the HZN trade.
I traded both and Broke even on this trade and a small loss on HZN.


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## bux2000 (23 October 2021)

Hi Tech,

It is very nice to hear from you. I trust you got over your Flu OK.

Yes I am out of HZN as well with small loss

 Butbut long story ....and yes I know ....still in COE with break even at .26c

bux


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## Telamelo (8 June 2022)

COE another gas stock powering higher now @ 0.31c +5.08% upgraded it's guidance & sales the other day therefore increased cash flow $$


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## Telamelo (8 June 2022)

COE @ 0.315c +6.78 on big volume/momentum -  on the verge of a 1 year breakout on chart!


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## Telamelo (30 August 2022)

Energy stock.. *COE* @ 0.265c +6% on huge volume/momentum etc.
(record gas prices no doubt spurring this on imo)

DYOR & due diligence..

Cheers tela


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