COE 0.88% 56.0¢ cooper energy limited

coe news

  1. 2,834 Posts.
    Cooper Energy closed at 14.5 cents, trading in a range of 14-15 cents during the week. They are farmin partners (25%) with the Brighton-1 well being drilled by Beach in PEL-92 (same as Sellicks), and that well is expected to hit the target depth around Friday.

    Cooper plans to issue 14 million shares at 12 cents each, a discount of about 2.5 cents to the current price, and raise a further million dollars via convertible notes. According to a company press release, they plan to use the money for developing Sellicks and Christies fields further, and for the planned pipeline from those fields to the current Santos Moomba pipeline.

    Ian Whitchurch
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