COE 5.26% 45.0¢ cooper energy limited

Cooper Energy Dream Run

  1. 29 Posts.
    Beach Petroleum announced this afternoon that the Sellicks-1 well in the Cooper Basin tested 1780 barrels of oil per day with no water. A great result.

    Cooper Energy are 25% participants in this discovery. On today's close they have a market capitalization of $7.98 mm, way smaller than Beach's, and therefore offer much greater leverage.

    Cooper Energy listed about 4 months ago after an oversubscribed IPO. This discovery is their first significant investment so they would still have most of their nest egg. What a dream run...yet the stock is still trading below the 20c issue price.

    I spoke to Tony Wright, their exploration and production director this afternoon. He believes it will be possible to place the well on production within three months. By my estimation this alone will yield $3mm - $5mm net to Cooper Energy in the first year of production. He is also excited about the potential for further wells on the Sellicks structure as well as a series of similar prospects nearby.

    The stock closed at 15.5 cents, up from 13 cents prior to the announcement. I bought some shortly after the announcement at what I consider to be an absolute bargain basement price.

 
watchlist Created with Sketch. Add COE (ASX) to my watchlist
(20min delay)
Last
45.0¢
Change
-0.03(5.26%)
Mkt cap $760.5M
Open High Low Value Volume
47.0¢ 47.0¢ 45.0¢ $1.301M 2.851M

Buyers (Bids)

No. Vol. Price($)
6 95556 45.0¢
 

Sellers (Offers)

Price($) Vol. No.
45.5¢ 1413 2
Last update - 16.10pm 24/10/2018 (20 minute delay) ?
(live)
Last
45.3¢
  Change
-0.03 ( 4.72 %)
Open High   Low Volume
47.0¢ 47.0¢   45.0¢ 727549
Last updated 15.59pm 24/10/2018 (live) ?
COE (ASX) Chart
GET SUPPORT arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.