COE needed to go it alone and not rely on buy-in companies to support their business model.
This is an opportunity for COE to step up in the market.
There is a lot of demand for Gas at the moment.
Don't be surprised to see production numbers ramp up after the sale. COE are pushing for a quick turnaround on this sale and want to capitalise on the current gas prices and demand.
This has been on the radar for a while and IMO there has not been the sense of urgency by the company to get Orbost to full production, this might be a strategic move, so that COE with owning Orbost outright banks 100% of revenue.
In theory with COE owning Orbost outright this increases the net value of the company.
Ann: APA: APA sell Orbost Gas Processing Plant to Cooper Energy, page-13
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Last
22.5¢ |
Change
0.005(2.27%) |
Mkt cap ! $594.0M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 23.0¢ | 22.3¢ | $793.1K | 3.493M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 29999 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.0¢ | 316700 | 14 |
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| Last trade - 16.10pm 02/07/2024 (20 minute delay) ? |
| COE (ASX) Chart |