COE is undervalued, even in comparison to the other C/B expl/prod imho.
it has cash of about 16c/share for a start.
then how much are the other assets worth?
Orbost infrastructure operating and processing gas, with a huge capacity to increase throughput.
then the fields off Vic.
then the Indon fields which are now producing, and with expanded drilling currently underway.
oil prod of about 500,000 bbls p/a.
at some point, a predator will view COE as too good an opportunity to pass-up
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