price movement, page-2

I think COI provides probably the best leverage for consolidation speculations in the CSG industry.

With just 105 million shares on issue a takeover price of A$1 per share would be a bargain for an acquisition of Comets assets!

A bidder would get:

• 100% of the world class assets ATPs 743P and 744P / Galilee Basin, QLD (prospective resource: 35+ TCF)
• 20% of PEL 427 and 25% of PEL 428 / Gunnedah Basin, NSW
(and a free carried core hole in each permit from ESG in January/February)
• 40% of Mahalo, Northern ATP 337P
• At least 5% of a US$100 million third party funded US program covering a. o. the Florence and the highly prospective Grays Habor projects

And COI has no executive management to severance pay … ;-)

In the light of the current industry activities – in particular Arrows net acquisition cost of Pure at about A$551 million and AGLs A$ 171 million all-cash takeover of Sydney Gas one could think a A$100 million deal for COI would be the cheapest buy of the year …