kurnia was a free carry

The market has treated cooper like Kurnia is all it has got for the last 2 months. Has everyone forgotten 10% chance of oil and 30% of gas odds to begin with (Not high odds but people still dumping the stock). It was a HIGH RISK potentially high reward exploration which was a freebie for cooper. To me it was low risk to Cooper as upside only potentially a company maker and did not burn cash.

Of course I would have prefered a company maker but if it was that easy then Oil and Gas would be as plentiful as grape vineyards.

I think it would have Nations Petroleum cost at least double the below as it has taken more then double the time estimated. They have this rig for 7 months. Nations Petroleum must have deep pockets and will exhaust all avenues. They won't just abandon it now at the last hurdle. They would have plugged and abandonded ages ago otherwise if it didn't have anything. Unless it is not possible to do a production test at all cause of cleanout difficulties they will do a production test IMO.

Cooper made a record profit and record production and still not good enough for some. If anyone can give me a better run, more profitable, more potential small to mid cap oil company, please let me know. Lately it has been treated like a pure explorator. I hold through this ridiculous Kurnia volatility knowing in 2 years time, everyone will have forgotten about Kurnia.

NEXT 2 YEARS
More Production Records
Bigger Profits
Parsons 2 expand reserves
Gurame 6 - Potential to add 1.50 to 2.50 to price alone.
Tunisia - Bargou Block and Hammeret potential not even factored into share price cause market has the patience of Ants.

Not ramping just in disbelief the importance the market put on KURNIA which was assessed to begin with as a high chance of failure.


Please read the link regarding KURNIA was a freebie.
http://www.rigzone.com/news/article.asp?a_id=41578
"The farm-out provides Cooper Energy with a free-carry through the forthcoming Kurnia-1 well (saving US$4.1 million) and the 2007 2D seismic program (saving US$1.5 million) – as well as receiving a payment of back costs of US$0.55 million. This results in a package of financial benefits totaling US$6.15 million".


Cooper Energy has secured the farm-out agreement with Nations Petroleum, a substantial private oil and gas company with interests in California, Azerbaijan and Indonesia. Nations Petroleum recently divested a project in Kazakhstan for US$1.9 billion. As part of the farm out negotiations, Nations Petroleum has offered to use its core organization skills to take the lead during the development and production phases of any discovery, which fits with Cooper Energy's business strategy of maintaining a lean and low-cost operating structure. This arrangement has the potential to further provide value to Cooper Energy.