get on b4 its to late!, page-5

I got in at 24.5/25 cents in June.

Back then COE had $19 mill cash and no international acerage.

Now they have $25 mill cash and fantastic onshore Madura turf etc.

So COE is a vastly better co than when I bought, and as Jojo says, still a buy.

It was a bit of a punt when I bought in the sense that we didnt know how well/bad they would spend their cash.
But they had taken a year looking so they were obviously choosey. Fortunately they have spent well so far, with more good deals to come ?

There are no silly "options for the boys" etc.
Scott has 1.9 mill options exercisable at 55 cents.

When there is a major price sensitive ann, there is no price run up. I like that - very professional tight lipped ship.

Sooner or later COE will hit 100-200 mill barrells in Madura or elsewhere, and sp will shoot past $3.
Thats what Im looking for, and more and more will sit tight rather than trade on spikes.

At present the largest holder has 6%, soon someone will want 10% or more.

Now that continuous drilling is locked in for next year, there is every reson to sit and see what happens.

But even in the Cooper Basin, these 3 upcoming drills in Jan/Feb are what the co descibes as the best targets in the entire basin.
If one of those comes in (there are 6 exploration wells planned for the first 6 months 06), then COE has a strong future.