could ipm make a counter offer for coe, page-6

Thanks for your comments Auto.

You make a great point about the 50 cents better spent on IPM then drilling.

My frustration with the conversation today is that they will pay 15 million for another spin of roulette wheel as EL likes to call it which Im not against as Tazerka must have development potential and you have to gamble to grow but won't buy back 50 million of their own shares for 15 million.

You also make a good point if the takeover went ahead then they would have plenty of cash flow and still plenty of cash to buy back the shares which were issued from the unhappy IPM shareholders.

BTW saw you got some EXR today. I know market cap 18million cash at bank 11 million. Can you tell me their oil reserves and their expected barrels of production for 2009. Did a capital raising at 27. Similiar to COE. I like.

Do you have any other shares besides COE & EXR?