I noticed today that COE is now the same price as our CVN.
I am seriously thinking of selling out and buying an equivalent qty of COE instead.
They produce 2000bopd CVN 4000 BUT consider the following
CVN pays massive 50% tax COE somewhat less
COE local Cooper basin producer CVN mainly Thailand (sov risk IF ANY)
CVN have 3 times as many shares out there(almost) so COE only has to produce (find) 1/3 of CVN's amount for same EPS ?? (I think that's how it works)
COE also has many promissing future exploration leases (overseas as well as local)
Their SP has dropped some 40% of recent highs due to the last well being a dud....
PLUS I am really getting annoyed what the cappers/DTraders are doing to our stock.
WHAT WILL IT take for it to get to its true value.
Good news after good news yet the price is a day traders plaything.
Possibility for COE to rebound quickly from here ???
What do fellow CVN /COE owners think ?
Is my logic irrefutable or am I not thinking far enough ahead
Any thoughts ?
Happy weekend
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