Putting things in perspective... Kurnia was always a 10% POS wildcat so it's not surprising there has been a lot of volatilty in the SP and uncertainty about the result. That doesn't excuse the lack of detailed information flow over the last few weeks but Kurnia has never been the main focus of the company of late, they're all talking up Gurame.
Gurame, if successful, will be the companies first international development. Go back and read some of the broker announcements on the COE website regarding this prospect... it's very exciting with the Arun field and infrastructure so close, five previous wells all encountering oil and gas and Shell and Mobil giving probably reserve estimates around 1.3TCf and 70mmbl. The rig is mobilising in Feb so sooner or later the BESOS crowd will move in on COE and these prices will look cheap again. If the appraisal well is a success then, to use the topic of a previous thread, "it's goodbye to $1 forever"...
COE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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