yep, cheers Matty, your first post above says "Not held", then...

yep, cheers Matty,
your first post above says "Not held", then the second post says "Held". Did you just buy some COE?

I think you are absolutely right when you say its all about "risk".
and the "risk" factors for oil and gas now are huge, for sure.
if I knew the answers I would not be on HC.

I think the "cash burn" you refer to is related to the FEED and FID work being conducted on the Sole and Manta projects.
the oil business was profitable last quarter and producing positive cash flow.
that will have worsened of course.
I just read WTI Nymex down to US$37.20 /bbl
I don't know what COE will do if it goes lower - do they stop producing? don't know.
but COE's Aust production is one of the lowest in Aust.
Indo oil prod is higher.
COE has said that they will need to raise funds (incl equity) to get the Sole project moving.
that is why they are farming-out interests in the project.

The register of COE is heavily comprised on insto s/h, and the bigger O&G coys eg BPT, are now focussing on East Coast gas.

the big issue for all investors here, is their view on the demand and price of domestic East Coast gas.
If you think that the outlook is for over-supply, then we should not be having this conversation, because one would not need to be even considering an investment in any gas-producing aspirant companies in Aust. we should be looking at banks, or retail or whatever.

cheers