not finished with ipm , page-4

LosingCash,

I was at the same seminar and had a one on on one with Greg Hancock and the other representatives afterwards - ADE, STU & STX; a good informative evening.

Hancock could not announce at the seminar about 'pulling out of Seruway' because it had to be announced to the ASX beforehand.

As for his statement that Cooper are not finished with IPM, I point you to the statement in the IPM ' second Supplementary Target's Statement' page 10 'statement to Bloomberg on 28 October 2008', which said that in the event the offer period ends with Cooper holding less than 50% of Incremental, it would be "one step towards the goal" of seeking to combine the two companies. Furthermore, Cooper stated that "we'll have a quarter of the Company, minimum, that's a pretty good outcome. We always have the right to come back and complete another bid". Greg Hancock is no one's fool when it comes to stock market negotiations having been a stock broker previously.

He was upbeat about the forthcoming COE drilling and all of us that participate in the junior oiler ASX 'gamble' appreciate that we can win/lose big-time on a good/bad drill result. Not quite the 1:1 Red/Black punt of a casino but a 20% chance of a good drill result with a far better upside; A multi bagger that we all wish for and far too many punters get p...ed of with management when the results are negative.

Get real every COE HC poster and appreciate what COE management and their well qualified team are trying to achieve for COE shareholders in interpreting 2D & 3D 'state of the art' seismic data to 'see' what is up to 3000m or so 'down under the surface'; only drilling can confirm the hazy images created by seismic and 'see' if hydrocarbons are present or have 'escaped' from the calculated 'traps'. Every oiler has the same criteria to assess; Lady Luck rules - OK! Don't shoot the messenger when a P&A comes up 80% of the time.

Yes! LoosingCash, 2009 is an extremely important year for COE because the 'balls are in the air' after a long period of seismic activity and we all wait for the ultimate results of managements drilling decisions; personally, I hold great expectations for Tunisia as management of Coopers has a long history there.

In the meantime, the Cooper basin will, no doubt, add to oil reserves with the next three wells in December and January as discussed at the seminar.

Currently COE 21 cents / share (and IPM worth #2-73 according to KPMG Supplementary Target's Statement which is alone worth $58,304,782 against COE MC $59,844,833) what a bargain is COE!!!!