thoughts on mr. eddie smith's letter, page-10

SLAMPOIL,

I agree with you that Eddie was the prime mover for Impress and he sold out for a fraction of the ultimate value.

Senex were laughing all the way to the bank with their immediate reserve upgrades for Growler and Snatcher and the other 'gifted' assets.

As for your statement:

'COE needs a change and less of rolling the dice with useless oversea adventures.'

We only have to look at the Beach Energy ASX release today:

"We have mentioned on a number of occasions that in order to grow reserves and production, one has to look beyond its own shores, hence why we strategically identified and invested in countries such as Egypt"

Hmmm! sounds a bit like the COE strategy who have strategically identified and invested in countries such as Tunisia, Poland, Romania and Indonesia in order to grow reserves and production beyond Australia for minimal cost but with huge potential.

And Eddie wants to divest assets for a once off gain!

I will stick to the current Board and look forward to the impending Euroz Securities Limited advice to COE in relation to the approach 'by a number of companies in recent times with a view to merging with, or acquiring, Cooper Energy'.