last but not least

Is Cooper Energy the last substantial standing Cooper Basin oil & gas player left? You can probably bet your money so.

1. Beach Energy (BPT) bought out Delhi Petroleum, controlled & restructured Essential Petroleum to Somerton Energy, attempted to take over Drillsearch (DLS), bought out Impress Energy, and finally bought out Adelaide Energy. Last deal they did was with Bengal Energy to farm-in the Eastern Cooper Basin permit ATP732, not to mention Chervon took 60% of Beach's interest in PEL218 and ATP855 (Beach also took cash and COE shares for its Somerton stake and sold its 40% intereest in Tipton West to Arrow Energy).

2. Don't worry about Santos, they are the main game in Cooper.

3. Senex Energy (SXY), the rebranded VicPet, who formerly chased CSG in the Surat & Bowen Basins. Until Ian Davis took over as MD, rebranded, new executives installed, and spearheaded SXY to be a new leading Cooper Basin conventional and unconventional player. SXY attempted to block BPT's move on Impress Energy, ended up buying out Stuart Petroleum, seemed to have attempted to block DLS's takeover of Acer Energy, but then ended up taking more interest in permits in the Cooper Basin such as those with Orca Energy and Planet Gas (PGS). Given they missed out on Impress Energy and Acer Energy, one would guess what they are up to atm?

4. Drillsearch (DLS), got a new MD with Brad Lingo, and reshaped this junior to now a over $500m company and further consolidated its position to be in league with SXY by acquiring Acer Energy (finally!! when it failed the first time when it was known as Innamincka Petroleum).

5. New Hope Corp (NHC), via its subsidiary Bridgeport Energy, once a private company is now NHC's leading division to expand. Recent acquisition was that Bridgeport is buying Arrow Energy's Cooper Basin and Surat Basin assets that Arrow considers as non-core assets. One will only think Bridgeport is looking to expand further.

Now it appears that Cooper Energy is the only sizable junior worthy to be watch esp with cashflows and well successes of recent.

Other minor juniors that bearly make any money right now include: STX, AQO, PGS, Orca Energy and Real Energy. This makes COE the most likely one to watch, if not a target.

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Arrow reduces exposure

Tuesday, 28 May 2013

ARROW Energy has sold off interests in several permits in the Cooper-Eromanga and Surat basins to Bridgeport Energy, as it narrows its focus on its LNG project.

Bridgeport Energy is a wholly owned subsidiary of New Hope Corporation, seemingly established as a key interest holder and operator in Queensland.

Bridgeport chief operating officer Chris Way said the strategic expansion of the company’s portfolio as a wholly owned subsidiary of New Hope Corporation Limited was continuing.

“The assets acquired under this acquisition, together with existing production from the Inland and Utopia fields, provides Bridgeport the opportunity to become a significant participant in Australia’s conventional petroleum industry,” he said.

Bridgeport expects to close this transaction over the coming months.

Arrow’s divestment of these conventional petroleum tenements will allow it to deepen its focus on its LNG project and domestic gas business.

http://www.energynewspremium.net/StoryView.asp?StoryID=798530305