You could argue that if LKO was lucky, they would be another Exxon if every hole they ever drilled came up a gusher, but it didn't so they are worth sod all. There is a fair element of luck in it, both good and bad. When the consortium first started drilling Alaska they drilled 11 dusters and the companies providing the finance pulled the plug. The chef driller pleaded for one last hole. The rest is history. As for COE, do the management deserve huge bonuses. Probably not until they get lucky. But they are out there trying and as far as I know they are doing it economically. If they struck 100mb oil Auto, you would be saying they were so smart. That's rubbish, it is just luck in this business.
COE Price at posting:
38.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)