Dragon may have some idea of itself or close partners, sounds like a good idea with COE current portfolio weighted heavily to Oz, create some cash. It is just part of the process... add value and sell. Could be a listing, might have been approached by some brokers, but expect it will be a sale.
From COE... it ain't in a rush.
The divestment process will evaluate a range of alternatives. Cooper Energy is currently participating in the drilling of the Hammamet West-3 well in the Bargou permit. As the decision to divest the Tunisia portfolio has been made for strategic reasons it is not dependent on the outcome of the Hammamet West-3 well. Mr Maxwell reinforced that Cooper Energy will continue to be engaged actively in the exploration programs committed by the Tunisian joint ventures while the divestment process was underway. The Tunisian assets were acquired by Cooper Energy from 2006 and were part of an international exploration portfolio that also included interests in Romania and Poland. Following a strategic review in 2011, Cooper Energy decided to focus on building production and reserves in and near Australia. Interests in Romania and Poland have been divested. As advised previously, Cooper Energy will continue to add value to its Indonesian assets before re-assessing them again in the medium term. Cooper Energy has appointed Miro Advisors Pty Ltd to advise on the sales process and expects completion by end December 2013.
JKA Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
