any coe owners as well, page-4

CVN seem to have found a prolific area and we are all aboard as they go for the jugular. Bopd figures from development wells will support mixed news from exploratory results. We are not yet at the end of the beginning.So much is yet to be defined.

I had a good run with COE several years back, their bopd is good but they have not found over the last few years what CVN has gotten onto. Their story does not look as exciting as CVN in the near term.

Holes will be drilled so long as money is there to fund them, but more often than not, nothing will be found. Like so many others, this seems to be COE predicament, no matter how "promising" the unproved prospect.

CVN have found something and the recent reserves upgrade of 300% dovetails nicely with your 3 x comparison to COE. The next reserves statement could be an upgrade of similar magnitude. Less of an explorer now and more of a producer. A safer bet.