From the broker report:
"We have upgraded our base case valuation to 120cps (previously 95cps) to take into account the higher production rates that Cooper can expect from its Cooper Basin assets, together with an upgrade of the valuation of the Indonesian assets as they are closer to delivering important newsflow."
Higher production rates from CB assets - fact.
Indonesian assets - speculation.
The $1.20 valuation definately includes a lot of blue sky (risked valuation's of Kurnia and Gurame). The question is how much the market is willing to factor that into the price...
From the broker report:"We have upgraded our base case valuation...
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Mkt cap ! $580.8M | |||
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