Hi El,
Looking at what Santos found around Madura island we know that Madura has oil and gas , it is just a question of finding it.
The cool think with COE is that for such a small company one wortel would be a company maker, and I am sure there are these kind of gas fields on land or close to shore at Madura.
But in the meantime we have still the Cooper basin and I just wrote in a post before that I believe that the inground value of the oil in the CB needs to be calculated upwards inline with the current oil price for Tapis at around the A$128/barrel
If you look at it from that angle then an inground price for the Cooper oil would be around A$35 to A$40 imho.
Oil is getting more expensive and we have to allow for this in our calculations.
jojo
gurame1 plugged and abandoned, page-25
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