Ann: Investor pack October 2019, page-2

there is a headline today saying that Macq bank has reduced its target price of COE to 65c p/s.
so that's today 16 oct 2019.

"Cooper Energy Price Target Cut 7% to A$0.65/Share by Macquarie

Just back on 9 Sept Macq:
Cooper Energy Price Target Raised 8% to A$0.70/Share by Macquarie

On 6 Oct COE advised the Annie gas discovery.

So why do that when COE has positive announcements between that period?

The only negative I can think of is that the drilling of Elanora-1 well was cancelled. And that cancellation had nothing to do with COE or the prospects in Elanora - it was cancelled because of the failure of the anchors on Ocean Monarch.

So Macq bank has dropped its target price from 70c to 65c when COE has announced the significant Annie gas discovery, the Dombey gas discovery, been awarded new exploration permits, and we are in a "hairs breath" of production from Sole/Orbost.

The closer to Sole production should mean a reduction of risk?
COE now actually provide detail of APA's commissioning program - ergo APA are confirming they are close.

Someone at Macq Bank must have had a long lunch?