Good afternoon Beau/AllI've been sitting on the sidelines of...

Good afternoon Beau/All

I've been sitting on the sidelines of late as a long term holder just watching events unfold and not posting as there is little that I can add to what is already known.

Comet's undervalued market cap is because the markets are driven by short-termism resulting in the lure of quick profits being favoured over medium to longer term holds based on fundamentals.

Such a situation is frustrating especially for those of us who have invested in COI since the early days.

COI's low market cap plays into the hands of those who are potential suitors who will of course be looking to buy us out for the lowest price possible - nothing unusual as that's just business.

I always thought that we would be taken out before production - however our management have continued steer the company towards becoming a producer though be it taking small steps over a long time.

From a personal point of view having been here as a shareholder since reinvesting profits from Sunshine Gas - the current T/O SP projected figure being mentioned on this bb doesn't fill me with great enthusiasm. I would much rather COI ended up as a producer and if required - farmed out to an industry experienced producer with deep pockets who would fund the capex required to get us to production. Yes we would have to give-away a percentage of future rewards - but I would much rather go down this route rather than being reliant on playing the waiting game for Santos to come knocking on our door with a low-ball offer.

A lower percentage of fully funded guaranteed production resulting in positive incoming cash-flow is better than 100% of nothing whilst the good ship COI is being buffeted in the doldrums by the waves of cash-burn.

Should this option be considered and the likes of Santos realise this is a possible outcome - the tables would gradually turn in COI's favour when it comes to a negotiating position with more than one horse in the race.

Just my take.

Good luck All and enjoy the Easter break.