If we take the latest forecast seen from the operator, Santos, there's no revenue until 2028/2029 and so likely not positive cash flow until 2030 or later... so it is very clear that there is a rush for COI to make a deal since they'll run out of cash soon otherwise... but what's the rush for a buyer? Why would Senex/Gina/Santos/Whoever else move now instead of just letting COI keep bleeding? Any offer now would probably be a lowball given the position COI has found themselves in?
Help me with the logic.
COI Price at posting:
16.5¢ Sentiment: None Disclosure: Not Held
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