Hey Jake, thanks for reply. Firstly I get the figure of 12c from...

Hey Jake, thanks for reply. Firstly I get the figure of 12c from my technical analysis of the charts. All O&G is in a strong downtrend with more then likely another down leg in oil prices to the 25$ region. Not many oil companies are profitable at these levels and prices will stay for longer imo. (UBS released figures today saying if oil stayed at these prices long term santos would be worth 37c!!?! I will tag link from abc website) COE is currently making a loss every quarter and being a risky cash loosing business will more then likely get destroyed in coming environment if prices were to stay down this low. Yes we have 36m$ but cash burn is high and they are trying to start a project in this environment?? loosing cash when they should be preserving it! Now talks of watering down holdings of sole/manta/orbust. I think in the next quarter cash will be a lot less then 36m$ and it will definitely fall down to 12c or less. Its a shame because i believe it could be a great company but due to reasons out of their hands (oil price) it is getting smashed.

I don't believe the east coast market to be in under supply of gas. Quite the opposite with companies all lined up on curtis island trying to get gas out all at low prices why wouldnt they sell a little bit locally at higher prices??

Long term contracts are still unsigned and no contracts are a definite yet ... FID could fall behind, these things dont always run on time.

Also the lower a share price goes the harder it is to raise capital .. especially if you need big dollars.

Its all about risk in energy sector atm.