oil and gas weekly, page-7

I am a bit like Ricky.

The real jewel in the crown with COI is the Washington State stuff later in the year and into next year.

I have about 20% of the SMSF in more speculative stuff, but the few stocks I have basically meet the criteria outlined by Ricky.

I am happy to hold COI and see how they play out.

I think you are writing off the current drilling program too early. They're revisiting the first site to free the stuck drill end - and at last report, pressure was building in the second well. Both had oil shows.

I'm not sure COI ever expected these wells to be world beaters, just nice little earners ... and perhaps more.

COI also have their coal seam interests in Australia and
are almost joined at the hip with STX. A merger between the two has often been speculated.

COI is a well managed, strategic outfit and I am more than happy to hold.

If you are hoping for a quick 20% - 30% then you'd better hope the oil in the Rockies starts coming up the pipe in a steady flow, real soon.

Mind you, that would be nice.