I see it more along the lines of jocam. While the price rose to 25c it has retreated quickly as not enough buyers see the upside.
I prepared a financial model on COE and estimate current oil in the ground at just under $15 per barrel. On a diluted (for options) basis I value COE around 21-22 cents per share. This assumes that they will continue to spend on exploration which yields nothing. Now this is not really likely to be the case. So i defined some probabilty distributions of between 0 and 3 discoveries each year at an average of 0.5mmbo net to COE. I ran some Monte Carlo Analysis and basically this gives me around 28-35c value for COE.
Cheers
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Last
22.8¢ |
Change
-0.003(1.09%) |
Mkt cap ! $607.2M |
Open | High | Low | Value | Volume |
23.0¢ | 23.0¢ | 22.5¢ | $105.3K | 463.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 432245 | 22.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
23.0¢ | 2437498 | 29 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
17 | 433480 | 0.225 |
18 | 611060 | 0.220 |
13 | 1926300 | 0.215 |
12 | 552069 | 0.210 |
17 | 458444 | 0.205 |
Price($) | Vol. | No. |
---|---|---|
0.230 | 2476080 | 34 |
0.235 | 1100714 | 26 |
0.240 | 3907524 | 28 |
0.245 | 455210 | 14 |
0.250 | 753468 | 15 |
Last trade - 10.57am 31/07/2024 (20 minute delay) ? |
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Nick Poll, Executive Director
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