how much left in the kitty, page-23

Hey ronisteb,
Good to see you still read the COE thread.
Can you tell me your thoughts on COE Tunisia's blocks.
You seem to know alot about the oil and gas industry.

With Fuschia I must admit EL has made some disturbingly good points as much as I hate to admit it EL LOL.
Is drilling such a small target of 23 million barrels(relative to what we are investing and what we can earn) with a 35% interest and approx a 15 million dollar drill then development cost, Tunisia tax rates 60/40 terms, $50US oil and only a 21% chance of a discovery even worth spending the 15 million on now? Don't get me wrong, you need to explorate to become a mid tier oil and gas company however MS idea of taking over reserves such as IPM is much more viable when all the oil companies share price are so low or even farm in to some Australian production. Maybe money better spent buying reserves then looking in this market. Also agree with EL (ouch again) to perhaps abandon international exploration altogether. So many oiler producers on the asx to buy some production into at an opportune time. I doubt oil will be 50 bucks for very long. Maybe look at taking over SAE, OEL, STU or just buy a project of a company that needs to raise cash.

Hey Lepanic and Shuffle

Agree with what you guys are saying about how every half cent movement in share price is a reflection of the company. That means all managments on the ASX are doing a terrible job including WPL and BHP LOL.

Hey Jesimore

When you posted "enough said", I hope that is a promise.

It was very obvious lepanic was talking EL. Why would he be talking to you? Like you said your new to the game of share trading. Good luck with your buying, selling, holding and re-entrys, waiting on the sidelines. I know a guy at work that just started buying shares originally for investment purposes and now he talks about selling, buying cheaper and re entrys blah blah blah stress stress blah. Sounds a little bit like you.

I love how you justify your COE exit with subsequent announcements. Got a secret for you. Its called LUCK.
You need alot more Luck then EL because he has followed the history of COE and makes his decisions on historical decisions of management.

I am sure with your sharetrading you think when you make a gain your astute and when you lose, your unlucky.

Anyway I am in deeper water in COE then the water they found at Gurame which they had only a 25% chance of finding water at the moment so I spose your much smarter then me. Then again like lepanic said its easy to be a genius in hindsight now knowing Cooper have found nothing at Kurnia and Gurame. They were genius when it was $1.20 to $1.40.