Market Talk, page-7

Cooper Energy Price Target Raised 3% to A$0.34/Share by Euroz Hartleys

Cooper Energy's East Coast Supply Project Looks Positive -- Market Talk
Euroz Hartleys is upbeat about Cooper Energy's East Coast Supply Project, even as it awaits key details including how much it will cost. Cooper Energy aims to use spare capacity at its Athena Gas Plant to lift processing rates to 90 terajoules of natural gas per day, from 20 TJ/day. Cooper plans to begin drilling in 2H of 2025, with maiden gas output in 2028. Euroz Hartleys describes the project as the largest source of new supply to the gas market in southern Australia's east coast. "Disappointingly Cooper could not yet provide detail on JV-alignment, costs or final investment decision" at a recent investor day, analyst Declan Bonnick says. "However, we assume this is upcoming in 2H of 2024." ([email protected]; @dwinningWSJ)
(END) Dow Jones Newswires
June 13, 2024 18:56 ET (22:56 GMT)