Hi @mikey16 I am a long term holder of COI (about 7 years) and I still maintain that it holds very valuable assets in Mahalo 40% (which has all the major approvals needed) as JV with Santos and Origin and Mahalo North 100% which is highly prospective based on the Mahalo project.
At present though there is a stalemate at the Government and big user level over "what to do about" the Gas prices to encourage investment and to keep users happy. The current domestic contracted prices generated are too low for investment, contributing to a lowering of supply along the East Coast, and export competition looks to reverse that but at the expense of domestic users.
Until there is some movement at either the Government level (with funding and infrastructure support for example) or by large users (manufacturers committing to realistic contract prices as an example), it is hard to know what to do as a new investor in this space.
Do I invest? How long do I wait? Should I monitor what happens?
You will see my posts about what I believe Mahalo alone is worth to COI should a commercial gas market (for both users and suppliers) operate efficiently. In addition, Mahalo North is highly prospective and if like Mahalo will be a game changer for COI. Galilee promises to be valuable both with conventional and unconventional gas reservoirs.
...........and gas is an asset in the ground which is of value given the extreme inflationary environment we are in or moving into.
What I can recommend is that you study the variety of the companies in this space....COI, GLL, VEN, Beach, BLU - their investor presentations can be especially valuable as a learning tool.
The HC pages could also have good insights.
and of course follow what the Federal and State Governments do next in this highly politicized space.
I have in mind that the COVID committee headed by Nev Power is due to announce something on 3 September so that could be a date to watch out for.
In the interim COI like others in this space appear to be very undervalued, but because of the macro issues might come at too great a risk for some investors.
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