While other oil companies have gone up 20-30% in the last few weeks and cooper has done the reverse, a potential script takeover becomes more likely. Not that i am suggesting it will happen but a company like awe trading at $4 could comfortable take over coe in the 80s and it will still be a good deal.
the attractiveness of the move would be they get 70 million in cash 1.7 million reserves and some big international exploration targets.
I would have said a takeover would have been unlikely however as acreage is becoming more expensive it seems like the value of the cooper assets may come into play. A bigger company would not need to farmdown bargou. I suspect this will only be likely once COE release the size of the propsective Bargou targets.
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