Nice post Shiston I am amazed at the short term nature of investors, but i also remind myself its the marginal trader that drives the ST shareprice with most the register not changing
I simply cant see where supply will come from on the East Coast. Finding Developing and producing gas is an expensive exercise and the financial incentive needs to be appropriate. If one looks at the funds Cooper energy has spent on east coast gas supply in Vic and the fact they still have issues and are losing money , one will really appreciate the intrinsic value of Comet. Then one can take a look at State Gas as a CSG comparison, who are achieving 1/4 of the flow rates of Comet and one also realizes Comet sits on low cost /high productivity acreage. As with WGO and AWE before it , the industry's gas buyers and producers know this and often all it takes is a catalyst on an initial bid for shareholders to realise value quickly. AWE went from 39c to 95c in a few months and WGO from 14 for 41 in a similar time frame.
COI is so similar to the other two ,and at some point someone will move. Truly an exceptional opportunity IMHO
COI Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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