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COE 46.0¢

new thread needed...

  1. jocam9

    1,317 Posts.

    About time we started a new thread for COE, old one is taking too long to load and posts are gettting a bit out of date.

    STU was the winner today, up what, 8 cents from yesterday while COE dropped back 2 cents. Strength in STU's price reflects what some people now think is better value though I'd suggest COE retracement is temporary.

    Both have run very hard with STU up 50 % since Monday's close and COE up nearly 75%. Cooper's options have done even better.

    Time now to sit back and work out were they are going to go from here now that the immediate excitement appears to be over. But that is not easy to say as there is still some drilling to do at Worrior and lots of evaluation.

    And then COE has two more wells in Eucalyptus and Kiwi and I think Semaphore is in there too. More drilling success and another run on COE is likely (and STU if that success is with Kiwi).

    My own view for what it is worth is that COE's (and STU's) shares are worth holding for the medium term in the expectation that COE will like ARQ become a successful producer and build up cash flow to fund further development and exploration.

    The shares might retrace a little in the meantime but the discoveries COE has made have added a bit more certainty and a tad less blue sky to COE's future which makes holding them less speculative (bit like VOY with its interests in Jingemia and Cliff Head).

    And I would have to say Greg Hancock seems certain to make sure COE's accomplishments are not hidden from the press. He is not prepared to just let the drill bit do the talking like ROC and PSA.

    And I think in today's market competing for attention and investor interest eg. against the biotechs and dot.coms that weren't around in John Doran's early days, that is not a bad strategy.

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