a late night thought , page-3

Coe scrip may be worth less each day but this also applies to IPM shares.
Currently at 94cents is hardly impressive.

The fact remains that at 33c x 252 Mil = $83 million dollars.
How much cash on hand have we accumulated till today ... was $73 Mil cash 3 months ago and selling over 1000bopd for some $120 barrel still with currency diff.
Don't know how much they spent in the past 3 months but must still be quite impressive

So the fact remains we are extremely well cashed up which is a blessing in todays market.

So if we suceed ..great.
If not .. no biggie, plenty of overseas ventures , Tunisia etc to get excited about.

This is a great buyers market, one probably won't see such bargains for decades to come.

Today I had a choice ... buy IPM, CVN or more COE.
I got filled for 32.5 c ... still can't believe my luck.

Yes the yanks may totally stuff up tonight and the DOW may well plunge but I'll feel reasonably comfortable since we are already trading below break up value.

Any cheaper will be palin silly and a probable takeover target.